Many are the factors that impact economic progress; howsoever, the Banking sector directly impacts its economy. Financial assistance of all the firms and companies had to be backed by the robust banking system of an economy. The banking sector is sensitive since they are the first to hit whenever an economic crisis or economic boom happens. Banks should survive intense competition by keeping new technology, innovative products, investors interest in focus, etc. Depending only on financial data and unorganized accounting ratios is inadequate. Therefore, financial performance is necessitated to be rigorously analysed. In this study, two public sector banks, the Canara Bank and Bank of Baroda (BOB), and two private sector banks, namely Industrial Credit and Investment Corporation of India (ICICI) and Housing Development Finance Corporation (HDFC), will be comparatively evaluated.