Given the S&P/ASX 200 Index (ASX: XJO) rose by a healthy 7.5% over 2024, many prominent ASX 200 blue chip shares, including bank stocks, delivered healthy gains. However, it was arguably the Commonwealth Bank of Australia (ASX: CBA) share price that was once again the poster child.

The CBA share price had a blowout year in 2024. For one, it notched up a gain of 37.08%, which obviously blows out the return of the broader market. But CBA also hit a flurry of new all-time record highs last year.

The ASX 200 bank stock started 2024 at $111.80 a share. But over the rest of the year, CBA blew past $120, then $130, $140 and $150 a share before hitting its still-reigning record high of $161.37 in mid-December.

Even though the CBA share price ended the year well below that high at $153.25, it was still an incredible year for anyone who owns this bank in their ASX portfolio.

You might assume that CBA's gains topped out the ASX banking sector. But you'd be wrong.

For one, CBA's fellow big four bank stock Westpac Banking Corp (ASX: WBC) was an even more impressive performer, shooting up more than 41%. But even Westpac wasn't the best ASX 200 bank stock to own last year.

That crown goes to Judo Capital Holdings Ltd (ASX: JDO).

Judo tops ASX 200 bank stocks in 2024

Judo doesn't quite have the name recognition as the other big ASX banks. That's fair enough, given that it only hit the ASX boards back in 2021 and has a market capitalisation of $2.11 billion today (less than 1% of CBA's).

However, none of that stopped Judo from blowing both CBA and Westpac's gains out of the water.

The Judo share price began 2024 at a flat $1 a share. But on New Year's Eve last week, those same shares closed at $1.82. That means this bank stock recorded a rise of… you guessed it, 82% over last year.

Judo's explosive rise can likely be put down to good old-fashioned fundamentals.

Back in February 2024, Judo released its half-year earnings report. This revealed that, unlike most ASX 200 banks, Judo's profits were actually growing. The company reported a 24% rise in profits before tax to $67.4 million over the six months to 31 December 2023.

Then, in August, Judo dropped its full-year results, which were a little less explosive, but still impressive. For the 12 months to 30 June 2024, Judo reported an 11% hike in underlying profits (before impairments) to $180.2 million. The bank also guided that it expects to grow its profits before tax by another 15% in FY2025.

So you can see why investors might have been excited by this ASX 200 bank stock last year.

Judo gaining a lucrative spot on the exclusive S&P/ASX 200 Index in June wouldn't have hurt sentiment either.

Let's see if this overachieving ASX 200 bank stock continues its momentum in 2025.