HDFC Bank has delivered the worst stock returns among most large private sector peers so far this year as brokerages say the operating gap between India's largest private lender and ICICI Bank is widening across key metrics such as margins, loan growth and return on assets. The stock is down 22% year-to-date, eroding nearly Rs 5 lakh crore in investor value, compared with a 9% gain in ICICI Bank.
YES Bank, another private lender of strong retail interest, has risen 7%, while Axis Bank is down about 1% and Kotak Mahindra Bank has fallen 14%. On the market screen, The concern raised by analysts is that HDFC bank is still behind ICICI Bank on business momentum and profitability after its merger with HDFC.
