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Hdfc Bank vs Bank of N.T. Butterfield & Son: revenue, profit, margins and growth compared

Hdfc Bank brought in $25.6B of revenue in fiscal 2025, Bank of N.T. Butterfield & Son $606.8M in fiscal 2025. Revenue changed by +15.2% at Hdfc Bank and +4.6% at Bank of N.T. Butterfield & Son on the year before, so Hdfc Bank grew faster. Hdfc Bank kept 30.8% of its revenue as net profit, Bank of N.T. Butterfield & Son 38.2%.

Side by side, latest fiscal year

HDBNTB
Fiscal year endedFY2025 (March 31, 2025)FY2025 (December 31, 2025)
Revenue$25.6B$606.8M
Revenue growth+15.2%+4.6%
Net income$7.9B$231.9M
Net margin30.8%38.2%
Free cash flow$13.2Bn/a
Free cash flow margin51.6%n/a
Earnings per share (diluted)$1.04$5.47
Cash$23.2B$1.7B
Debt$68.7B$0
Price to earningsn/an/a
Market value$118.1B$2.4B
Dividend yieldn/an/a
Rank by revenue in sector#24 of 444 · Finance#228 of 444 · Finance

Over the years

Revenue
HDB FY2018: $7.8BHDB FY2019: $8.6BHDB FY2020: $8.9BHDB FY2021: $10.7BHDB FY2022: $11.8BHDB FY2023: $13.8BHDB FY2024: $22.2BHDB FY2025: $25.6BNTB FY2018: $517.8MNTB FY2019: $532.6MNTB FY2020: $494.2MNTB FY2021: $499.7MNTB FY2022: $549.3MNTB FY2023: $578.6MNTB FY2024: $579.9MNTB FY2025: $606.8MFY18FY19FY20FY21FY22FY23FY24FY25
HDB $25.6BNTB $606.8M
Net income
HDB FY2018: $2.7BHDB FY2019: $3.2BHDB FY2020: $3.5BHDB FY2021: $4.5BHDB FY2022: $5.1BHDB FY2023: $6BHDB FY2024: $7.5BHDB FY2025: $7.9BNTB FY2018: $195.2MNTB FY2019: $177.1MNTB FY2020: $147.2MNTB FY2021: $162.7MNTB FY2022: $214MNTB FY2023: $225.5MNTB FY2024: $216.3MNTB FY2025: $231.9MFY18FY19FY20FY21FY22FY23FY24FY25
HDB $7.9BNTB $231.9M
Net margin
HDB FY2018: 35.1%HDB FY2019: 37.0%HDB FY2020: 38.6%HDB FY2021: 41.7%HDB FY2022: 43.3%HDB FY2023: 43.8%HDB FY2024: 33.6%HDB FY2025: 30.8%NTB FY2018: 37.7%NTB FY2019: 33.2%NTB FY2020: 29.8%NTB FY2021: 32.6%NTB FY2022: 39.0%NTB FY2023: 39.0%NTB FY2024: 37.3%NTB FY2025: 38.2%FY18FY19FY20FY21FY22FY23FY24FY25
HDB 30.8%NTB 38.2%
Revenue growth
HDB FY2019: +10.3%HDB FY2020: +3.9%HDB FY2021: +19.6%HDB FY2022: +10.0%HDB FY2023: +17.0%HDB FY2024: +61.6%HDB FY2025: +15.2%NTB FY2019: +2.9%NTB FY2020: -7.2%NTB FY2021: +1.1%NTB FY2022: +9.9%NTB FY2023: +5.3%NTB FY2024: +0.2%NTB FY2025: +4.6%FY19FY20FY21FY22FY23FY24FY25
HDB +15.2%NTB +4.6%
Free cash flow
HDB FY2018: $1.3BHDB FY2019: $2.4BHDB FY2020: $2BHDB FY2021: $12.4BHDB FY2022: $7.3BHDB FY2023: $5.3BHDB FY2024: $11.6BHDB FY2025: $13.2BNTB FY2018: $278.1MFY18FY19FY20FY21FY22FY23FY24FY25
HDB $13.2BNTB $278.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Hdfc Bank and Bank of N.T. Butterfield & Son

Which is bigger by revenue, Hdfc Bank or Bank of N.T. Butterfield & Son?

Hdfc Bank is bigger by revenue: $25.6B in fiscal 2025, against $606.8M for Bank of N.T. Butterfield & Son in fiscal 2025.

Which keeps more of its revenue as profit, Hdfc Bank or Bank of N.T. Butterfield & Son?

Hdfc Bank had a net margin of 30.8% in fiscal 2025; Bank of N.T. Butterfield & Son had 38.2% in fiscal 2025.

Which grew revenue faster, Hdfc Bank or Bank of N.T. Butterfield & Son?

In their latest fiscal years revenue changed by +15.2% at Hdfc Bank and +4.6% at Bank of N.T. Butterfield & Son.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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