Prefer Axis Bank over ICICI Bank: Parag Jariwala

Parag Jariwala of Religare Capital Markets told CNBC-TV18, "If I have to choose between Axis Bank and ICICI Bank, I would clearly go with Axis at this moment. Both of them have guided lower asset quality pain in FY16 over FY15 but still in terms of stressed asset formation, Axis would be half of what ICICI will report in FY16. Also in terms of loan growth, Axis Bank can deliver anywhere closer to 18-20 percent growth where ICICI Bank will still struggle at below 14-15 percent."

"In terms of profitability, Axis Bank is still better than ICICI Bank. So, with all these three factors favouring Axis Bank at current level, Axis is a clear choice if I have to choose," he added.