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 Shinhan Financial Group Co., Ltd. or ICICI Bank Limited 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 Shinhan Financial Group Co., Ltd. and ICICI Bank Limited compare based on key financial metrics to determine which better meets your investment needs.

About Shinhan Financial Group Co., Ltd. and ICICI Bank Limited

Shinhan Financial Group Co., Ltd. provides financial products and services in South Korea, Vietnam, and Japan. The company operates in six segments: Banking, Credit card, Securities, Insurance, Credit, and Others. It offers credit, lending and receiving deposits; credit cards, short-term and long-term card loan services, installment financing, and leases; securities trading, consignment trading, and underwriting; life and non-life insurance business; facility rental and new technology business financing; and real estate trust, investment advisory services, venture business investment, and other businesses. Shinhan Financial Group Co., Ltd. was founded in 1982 and is based in Seoul, South Korea.

ICICI Bank Limited, together with its subsidiaries, engages in the provision of various banking and financial services to corporate and retail customers in India and internationally. The company operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers asset management, securities brokerage, private equity, foreign exchange, agricultural and rural banking, equities underwriting, depositary share accounts, consumer durable goods financing, corporate salary and current account, savings and sovereign gold bonds, insurance policies, public offerings, investment, credit and protection, retail inward remittances, certificates of deposits, and payment and transaction banking products and services. It is also involved in the fee and commission-based activities; distribution of financial products; venture capital and real estate fund management business; treasury and rural banking operations; financial solutions; working capital financing; I-Process services, mutual funds, investment banking, and pension funds; and advisory activities. In addition, the company provides savings, salary, capital gains scheme, Hindu undivided family savings, real estate regulatory authority, government e-marketplace, current, trade, escrow, and foreign currency accounts. Further, it offers personal, home, car, education, gold, automobile, and commercial business loans, as well as loans against time deposits, securities, and property; and working capital loans, as well as credit, debit, prepaid, travel, forex, commercial, and corporate cards. Additionally, the company provides fixed income products; investment products; payments; general, accident, life, health, vehicle, and travel insurance products; cash management and merchant services; capital market and securities market services; and forex, derivatives, bullion, and bonds. The company was founded in 1955 and is headquartered in Mumbai, India.

Latest Banks and Shinhan Financial Group Co., Ltd., ICICI Bank Limited Stock News

As of September 1, 2026, Shinhan Financial Group Co., Ltd. had a $38.4 billion market capitalization, compared to the Banks median of $730.8 million. Shinhan Financial Group Co., Ltd.’s stock is up 51.8% in 2026, up 5% in the previous five trading days and up 69.26% in the past year.

Currently, Shinhan Financial Group Co., Ltd.’s price-earnings ratio is 11.9. Shinhan Financial Group Co., Ltd.’s trailing 12-month revenue is $10.5 billion with a 32.5% net profit margin. Year-over-year quarterly sales growth most recently was 3.1%. Analysts expect adjusted earnings to reach $8.520 per share for the current fiscal year. Shinhan Financial Group Co., Ltd. currently has a 2.7% dividend yield.

As of September 1, 2026, ICICI Bank Limited had a $108.6 billion market cap, putting it in the 97th percentile of all stocks. ICICI Bank Limited’s stock is up 2.6% in 2026, up 1.4% in the previous five trading days and down 4.88% in the past year.

Currently, ICICI Bank Limited’s price-earnings ratio is 37.9. ICICI Bank Limited’s trailing 12-month revenue is $21.1 billion with a 27.5% net profit margin. Year-over-year quarterly sales growth most recently was 53.4%. Analysts expect adjusted earnings to reach $1.640 per share for the current fiscal year. ICICI Bank Limited currently has a 0.8% dividend yield.

How We Compare Shinhan Financial Group Co., Ltd. and ICICI Bank Limited 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 Shinhan Financial Group Co., Ltd. and ICICI Bank Limited’s stock grades to see how they measure up against one another.

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Shinhan Financial Group Co., Ltd. and ICICI Bank Limited Growth Grades

Company	Ticker	Growth
Shinhan Financial Group Co., Ltd.	SHG	F
ICICI Bank Limited	IBN	D

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Shinhan Financial Group Co., Ltd. has a Growth Score of 9, which is Very Weak. ICICI Bank Limited has a Growth Score of 36, which is Weak.

The Growth Stock Winner: No Clear Winner

Neither Shinhan Financial Group Co., Ltd. or ICICI Bank Limited has a high enough Growth 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 Shinhan Financial Group Co., Ltd. or ICICI Bank Limited is the better investment when it comes to sustainable growth.

Shinhan Financial Group Co., Ltd. and ICICI Bank Limited’s Momentum Grades

Company	Ticker	Momentum
Shinhan Financial Group Co., Ltd.	SHG	A
ICICI Bank Limited	IBN	C

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%.

Shinhan Financial Group Co., Ltd. has a Momentum Score of 85, which is Very Strong. ICICI Bank Limited has a Momentum Score of 52, which is Average.

The Momentum Grade Winner: Shinhan Financial Group Co., Ltd.

As you can clearly see from the Momentum Grade breakdown above, Shinhan Financial Group Co., Ltd. is considered to have stronger momentum compared to ICICI Bank Limited. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, Shinhan Financial Group Co., Ltd. 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.

Shinhan Financial Group Co., Ltd. and ICICI Bank Limited’s Estimate Revisions Grades

Company	Ticker	Earnings Estimate
Shinhan Financial Group Co., Ltd.	SHG	D
ICICI Bank Limited	IBN	C

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

Estimate revisions offer an indication of what analysts are thinking about the short-term prospects of a firm. Estimate revisions are based on the statistical significance of a firm’s last two quarterly earnings surprises and the percentage change in its consensus estimate for the current fiscal year over the past month and past three months.

Shinhan Financial Group Co., Ltd. has a Earnings Estimate Score of 27, which is Negative. ICICI Bank Limited has a Earnings Estimate Score of 44, which is Neutral.

The Earnings Estimate Revisions Stock Winner: No Clear Winner

Neither Shinhan Financial Group Co., Ltd. or ICICI Bank Limited has an Earnings Estimate Revisions Grade that could be considered a “winner.” Investors 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 Shinhan Financial Group Co., Ltd. or ICICI Bank Limited is the better investment when it comes to estimate revisions.

Other Shinhan Financial Group Co., Ltd. and ICICI Bank Limited Grades

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

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 Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite 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 F-Score.

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 Shinhan Financial Group Co., Ltd. and ICICI Bank Limited pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Shinhan Financial Group Co., Ltd. or ICICI Bank Limited Stock?

Overall, Shinhan Financial Group Co., Ltd. stock has a Growth Score of 9, Momentum Score of 85 and Estimate Revisions Score of 27.

ICICI Bank Limited stock has a Growth Score of 36, Momentum Score of 52 and Estimate Revisions Score of 44.

Comparing Shinhan Financial Group Co., Ltd. and ICICI Bank Limited’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.