Axis Bank and ICICI Bank are by far the most favorite as well as among the biggest banks in India as of 2025. So, no wonder that you’re feeling a bit confused about which bank you should go with. we totally get it. Though, before we go any bit forward, just know that at the moment, ICICI Bank is the 2nd largest bank in the country, and in the same list, Axis Bank holds the fifth spot as the 5th largest bank in India as of 2025. So, whatever confusion is going on in your head right now, just know that this is the same thing literally millions of people experience in India when it comes to choosing between these two big banks. Though, we’re here to give a good lowdown on Axis Bank Vs ICICI Bank, so that will clear up a lot of things for you. So, just keep on reading, here we go.
Axis Bank
Well, Axis Bank isn’t too old, like it came into the Indian banking scene just back in 1993 only. And back then, you know, when it started out, it was known by the name UTI Bank, which back then was a part of the Unit Trust of India (a Government of India entity). Fast forward to just 31 years from that time, look at Axis Bank now, it is the 4th largest private sector bank in India by market capitalization. That’s just impressive growth right there.
Since it is among the biggest banks in India, you already expect it to provide almost all types of banking services, right? Well, that’s pretty much how it is because Axis Bank offers all banking services, you know, from savings accounts to big business loans. And recently enough, Axis Bank bought Citibank India’s retail business, which is a good indicator that shows us that this bank is growing super fast.
ICICI Bank
Oh, compared to Axis Bank, ICICI Bank is definitely an old one because it was set up way back in 1955. And just like anybody else who hears this bank’s name for the first time, if you’re also wondering like what ICICI even stands for, then just know it used to be called the Industrial Credit and Investment Corporation of India. But the surprising part is that it actually used to be a government institution.
As far as the services are concerned, well, since it is the 2nd largest bank in the country, you can expect it to provide you with literally anything banking-related, you know? So yes, here you get anything from personal banking to investment services. Plain and simple!
Axis Bank Vs ICICI Bank
1. Financial Health
From the looks of it, and it should be pretty apparent by this point that it is actually ICICI Bank that outperforms Axis Bank in this department because it holds the 2nd rank in the list of the largest banks in India.
But still, just to give you perspective on things, let’s talk about some data points. Talking about the revenue generated by both of these banks, you see, ICICI Bank is standing at the top with almost ₹236,037 crore revenue in 2024. And Axis Bank’s total revenue in 2024 was around ₹137,989 crore. So you can clearly tell now who has won this segment, right?
2. Market Cap, Shares, & Value
Once again, in these financial metrics, ICICI Bank is going to be ahead because it is a much larger bank. So, talking about market cap first, well, ICICI Bank’s market cap is about 9.60 trillion INR as of 28th March 2025. Whereas, we look at Axis Bank’s market cap, which is just 3.41 trillion INR.
Share price? See, if you look at the share price of both the banks, you’ll see a steady growth over the years, but right now, the difference between the price these shares are trading at, isn’t way too high. Like, ICICI Bank’s share price is trading at 1,348.00 INR, whereas Axis Bank’s share price is 1,101.00 INR as of 28th March 2025. So, you can clearly see that Axis Bank is catching up slowly but steadily.
3. Customer Service Part?
In this particular department, well, things can get a little subjective. How? Well, first of all, the total bank branch and ATM numbers are pretty close, like ICICI Bank has about 6,854 branches and 16,345 ATMs in India, whereas Axis Bank is catching up well with 5,706 branches and extension counters, along with 14,476 ATMs. Though, we said it is subjective because there are a lot of people who say that Axis Bank’s customer service is much better because the bank people usually are well-trained and well-behaved compared to ICICI. Whereas some say the exact opposite of that.
4. Who’s Good At The New Tech Stuff?
In this department, we have a clear winner, actually. Who’s that? Oh, well, that has to be ICICI Bank because their digital offerings/products are just superior compared to any other bank out there. And not a lot of people know this fact, but it actually was ICICI Bank that introduced internet banking in India back in 1996. Though, in this segment, Axis Bank isn’t very far behind; it is just doing its part in providing reliable solutions or products to the customers.
5. What Do The Employees Say?
Oh, this is pretty subjective as well because it varies a lot. Still, first talking about the numbers here, you see, ICICI Bank has more employees, like about 1,35,900 of them. Axis Bank isn’t very far behind though like, with 104,333 employees.
6. Experts Weigh In
Well, when it comes to choosing one, you’ll see that almost every single time, experts will choose ICICI Bank for long-term investing. But you may be looking at this selection from a customer’s perspective, in that case, you’ll value the customer service part more. Anyway, you should know that Axis is seen as a value pick with growth potential post-Citibank deal.
