Sifting through countless of stocks in the Banks industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in HDFC Bank Limited or Itaú Unibanco Holding S.A. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how HDFC Bank Limited and Itaú Unibanco Holding S.A. compare based on key financial metrics to determine which better meets your investment needs.

About HDFC Bank Limited and Itaú Unibanco Holding S.A.

HDFC Bank Limited provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai. The company operates through Treasury, Retail Banking, Wholesale Banking, Other Banking Business, Insurance Business, and Other segments. It offers savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits. The company also provides personal, home, car and pre owned car, marriage, two-wheeler, business, doctor, educational, gold, consumer, and rural loans; loans against properties, securities, mutual funds, and car; loans for professionals; government sponsored programs; and loans on credit card, as well as working capital, term loans, supply chain management, project finance, export finance, commercial vehicle / equipment finance, tractor finance, infrastructure, and agriculture finance. In addition, it offers credit, debit, prepaid, forex, and kisan gold cards; payment and collection, export, import, remittance, bank guarantee, letter of credit, trade, hedging, and merchant and cash management services; and insurance and investment products. Further, the company provides short term finance, bill discounting, structured finance, export credit, loan repayment, custodial, and documents collection services; online, mobile, and phone banking services; unified payment interface, immediate payment, national electronic funds transfer, and real time gross settlement services; channel financing, vendor financing, money market, derivatives, employee trusts, cash surplus corporates, tax payment, and bankers to rights/public issue services; and financial solutions for supply chain partners and agricultural customers. It operates branches and automated teller machines in various cities/towns. The company was incorporated in 1994 and is headquartered in Mumbai, India.

Itaú Unibanco Holding S.A. provides various financial products and services to personal and corporate customers in Brazil and internationally. It operates through three segments: Retail Business, Wholesale Business and Activities with the Market + Corporation. The company offers current accounts; funds management; payments and collections; loans; credit and debit cards; investment and commercial banking services; real estate lending and financing services; economic, financial and brokerage advisory; and leasing and foreign exchange services. The company also provides non-life insurance products covering loss, damage, or liability for objects or people, as well as life insurance products covering death and personal accidents. It serves retail customers, account and non-account holders, individuals and legal entities, high income clients, microenterprises, and small companies, as well as middle-market companies and high net worth institutional clients. The company was formerly known as Itaú Unibanco Banco Múltiplo S.A. and changed its name to Itaú Unibanco Holding S.A. in April 2009. The company was incorporated in 1924 and is headquartered in São Paulo, Brazil. Itaú Unibanco Holding S.A. is a subsidiary of IUPAR - Itaú Unibanco Participações S.A.

Latest Banks and HDFC Bank Limited, Itaú Unibanco Holding S.A. Stock News

As of September 10, 2026, HDFC Bank Limited had a $112.3 billion market capitalization, compared to the Banks median of $755.7 million. HDFC Bank Limited’s stock is down 38.4% in 2026, down 3.3% in the previous five trading days and down 37.6% in the past year.

Currently, HDFC Bank Limited’s price-earnings ratio is 41.5. HDFC Bank Limited’s trailing 12-month revenue is $30.2 billion with a 26.8% net profit margin. Year-over-year quarterly sales growth most recently was -9.3%. Analysts expect adjusted earnings to reach $1.210 per share for the current fiscal year. HDFC Bank Limited currently has a 1.9% dividend yield.

As of September 10, 2026, Itaú Unibanco Holding S.A. had a $95.9 billion market cap, putting it in the 97th percentile of all stocks. Itaú Unibanco Holding S.A.’s stock is up 16.3% in 2026, up 1.3% in the previous five trading days and up 22.3% in the past year.

Currently, Itaú Unibanco Holding S.A.’s price-earnings ratio is 10.2. Itaú Unibanco Holding S.A.’s trailing 12-month revenue is $27.7 billion with a 32.6% net profit margin. Year-over-year quarterly sales growth most recently was 23.6%. Analysts expect adjusted earnings to reach $0.892 per share for the current fiscal year. Itaú Unibanco Holding S.A. currently has a 0.8% dividend yield.

How We Compare HDFC Bank Limited and Itaú Unibanco Holding S.A. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at HDFC Bank Limited and Itaú Unibanco Holding S.A.’s stock grades to see how they measure up against one another.

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HDFC Bank Limited and Itaú Unibanco Holding S.A. Stock Value Grades

Company	Ticker	Value
HDFC Bank Limited	HDB	C
Itaú Unibanco Holding S.A.	ITUB	B

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

HDFC Bank Limited has a Value Score of 59, which is Average. Itaú Unibanco Holding S.A. has a Value Score of 74, which is Value.

The Value Stock Winner: Itaú Unibanco Holding S.A.

As you can clearly see from the Value Grade breakdown above, Itaú Unibanco Holding S.A. is considered to have better value than HDFC Bank Limited. For investors who focus solely on a company’s valuation, Itaú Unibanco Holding S.A. could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

HDFC Bank Limited and Itaú Unibanco Holding S.A.’s Quality Grades

Company	Ticker	Quality
HDFC Bank Limited	HDB	D
Itaú Unibanco Holding S.A.	ITUB	F

Like the Value Grade, AAII’s A+ Investor Quality Grade comes from the percentile rank of key metrics. Specifically, the Quality Score is the percentile rank of the average of the percentile ranks of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and the F-Score.

The score is variable, meaning it can consider all eight measures or, should any of the eight measures not be valid, the remaining measures that are valid. To be assigned a Quality Score, stocks must have a valid (non-null) measure and corresponding ranking for at least four of the eight quality measures.

The Quality Score is used to assess the underlying “quality” of a particular stock. A higher-quality stock possesses traits associated with upside potential and reduced downside risk. Backtesting of the Quality Grade shows that stocks with higher grades, on average, outperformed stocks with lower grades over the period of 1998 through 2019.

Stocks receive better grades (higher scores) for having higher scores for the quality subcomponents and worse grades (lower scores) for lower scores for the subcomponents.

HDFC Bank Limited has a Quality Score of 25, which is Weak. Itaú Unibanco Holding S.A. has a Quality Score of 6, which is Very Weak.

The Quality Stock Winner: No Clear Winner

Neither HDFC Bank Limited or Itaú Unibanco Holding S.A. has a high enough Quality Grade to be considered a “winner.” Investors who are considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if HDFC Bank Limited or Itaú Unibanco Holding S.A. is the better investment when it comes to quality.

HDFC Bank Limited and Itaú Unibanco Holding S.A.’s Momentum Grades

Company	Ticker	Momentum
HDFC Bank Limited	HDB	F
Itaú Unibanco Holding S.A.	ITUB	B

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

HDFC Bank Limited has a Momentum Score of 19, which is Very Weak. Itaú Unibanco Holding S.A. has a Momentum Score of 61, which is Strong.

The Momentum Grade Winner: Itaú Unibanco Holding S.A.

As you can clearly see from the Momentum Grade breakdown above, Itaú Unibanco Holding S.A. is considered to have stronger momentum compared to HDFC Bank Limited. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, Itaú Unibanco Holding S.A. could be a good stock to invest in. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other HDFC Bank Limited and Itaú Unibanco Holding S.A. Grades

In addition to Value, Quality and Momentum, A+ Investor also provides grades for Growth and Estimate Revisions.

Earnings estimate revisions scores take into account the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Growth investing builds on the idea that stocks of companies exhibiting strong, consistent and prolonged growth outperform those of slower-growth companies. AAII measures growth through consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether HDFC Bank Limited and Itaú Unibanco Holding S.A. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, HDFC Bank Limited or Itaú Unibanco Holding S.A. Stock?

Overall, HDFC Bank Limited stock has a Value Score of 59, Momentum Score of 19 and Quality Score of 25.

Itaú Unibanco Holding S.A. stock has a Value Score of 74, Momentum Score of 61 and Quality Score of 6.

Comparing HDFC Bank Limited and Itaú Unibanco Holding S.A.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.