Table of Contents
ICICI Bank Share Price Target
1. About the Company
ICICI Bank Limited is one of India’s leading private sector banks, offering a wide range of banking products and financial services to corporate and retail customers.
Founded in 1994, ICICI Bank has grown to become the second-largest private sector bank in India by assets and market capitalization. The bank operates through a network of branches and ATMs across India, as well as international branches and subsidiaries.
ICICI Bank has established itself as a technology-driven financial institution, focusing on innovation and digital banking solutions. The bank’s strong presence in retail banking, corporate banking, and international operations has contributed to its consistent growth and market leadership.
2. Products
ICICI Bank offers a comprehensive range of banking products and services catering to various customer segments:
- Retail Banking:
- Savings and Current Accounts
- Fixed and Recurring Deposits
- Home Loans
- Personal Loans
- Vehicle Loans
- Credit Cards
- Debit Cards
- NRI Banking Services
- Corporate Banking:
- Working Capital Finance
- Term Loans
- Trade Finance
- Cash Management Services
- Supply Chain Finance
- Project Finance
- Rural and Inclusive Banking:
- Microfinance
- Kisan Credit Cards
- Crop Loans
- Self-Help Group Lending
- Digital Banking:
- iMobile Pay App
- Internet Banking
- WhatsApp Banking
- UPI Payments
- Wealth Management:
- Mutual Funds
- Insurance Products
- Portfolio Management Services
- Investment Banking:
- Mergers and Acquisitions Advisory
- Equity and Debt Capital Markets
- Private Equity
ICICI Bank has been focusing on expanding its digital banking offerings, with a particular emphasis on mobile banking solutions. The bank’s iMobile Pay app has gained significant traction, offering a wide range of services including fund transfers, bill payments, and investment options.
3. Results and Performance
ICICI Bank has demonstrated strong financial performance in recent years. Here’s a detailed analysis of the bank’s key financial information:
| Particulars (in INR Crores) | FY2022 | FY2023 | FY2024 | FY2025E | FY2026E |
|---|---|---|---|---|---|
| Net Interest Income (NII) | 47,967 | 58,997 | 74,300 | 81,300 | 90,800 |
| Non-Interest Income | 18,088 | 18,891 | 23,000 | 27,800 | 32,100 |
| Operating Profit | 38,347 | 45,995 | 58,100 | 66,300 | 74,800 |
| Net Profit | 23,339 | 31,896 | 40,900 | 45,800 | 50,700 |
| Total Assets | 1,411,303 | 1,584,545 | 1,870,111 | 2,170,250 | 2,518,160 |
| Net Advances | 859,020 | 1,019,640 | 1,184,410 | 1,375,100 | 1,611,610 |
| Deposits | 1,064,572 | 1,180,841 | 1,412,820 | 1,630,400 | 1,894,520 |
| CASA Ratio (%) | 48.7 | 45.8 | 42.2 | 39.8 | 40.4 |
| Net Interest Margin (%) | 4.00 | 4.34 | 4.70 | 4.40 | 4.20 |
| Cost to Income Ratio (%) | 40.5 | 40.1 | 40.2 | 39.2 | 39.2 |
| Gross NPA Ratio (%) | 3.60 | 2.81 | 2.26 | 1.95 | 1.89 |
| Net NPA Ratio (%) | 0.76 | 0.48 | 0.45 | 0.43 | 0.49 |
| Capital Adequacy Ratio (%) | 19.16 | 18.34 | 16.30 | 16.40 | 16.10 |
The bank has shown consistent growth in key metrics such as Net Interest Income, Operating Profit, and Net Profit. The asset quality has improved significantly, with declining NPA ratios. However, the CASA ratio has seen a slight decline, which the bank is addressing through various initiatives.
4. 52-week Stock Summary and Past 12-month Stock Performance
52-week Stock Summary:
- 52-week High: INR 1,362
- 52-week Low: INR 970
- Current Market Price (as of December 26, 2024): INR 1,328
Past 12-month Stock Performance (Monthly Open, High, Low, and Close):
| Month | Open | High | Low | Close |
|---|---|---|---|---|
| December 24 | 1,315 | 1,362 | 1,290 | 1,328 |
| November 24 | 1,280 | 1,320 | 1,250 | 1,315 |
| October 24 | 1,220 | 1,290 | 1,200 | 1,280 |
| September 24 | 1,180 | 1,230 | 1,160 | 1,220 |
| August 24 | 1,150 | 1,190 | 1,130 | 1,180 |
| July 24 | 1,100 | 1,160 | 1,080 | 1,150 |
| June 24 | 1,050 | 1,110 | 1,030 | 1,100 |
| May 24 | 1,020 | 1,060 | 1,000 | 1,050 |
| April 24 | 990 | 1,030 | 970 | 1,020 |
| March 24 | 1,010 | 1,040 | 980 | 990 |
| February 24 | 1,040 | 1,070 | 1,000 | 1,010 |
| January 24 | 1,060 | 1,090 | 1,030 | 1,040 |
5. Share Price Targets
Based on the bank’s strong financial performance, improving asset quality, and growth prospects, here are the predicted share price targets for ICICI Bank:
| Year | Predicted Share Price (INR) | Reason for Upside |
|---|---|---|
| ICICI Bank Share Price Target 2024 | 1,550 | Strong earnings growth, improving NIM |
| ICICI Bank Share Price Target 2025 | 1,750 | Continued business expansion, digital banking traction |
| ICICI Bank Share Price Target 2026 | 1,980 | Sustained profitability, market share gains |
| ICICI Bank Share Price Target 2027 | 2,240 | Enhanced operational efficiency, robust credit growth |
| ICICI Bank Share Price Target 2028 | 2,530 | Diversification of revenue streams, international expansion |
| ICICI Bank Share Price Target 2029 | 2,860 | Technology-driven growth, improved cost-to-income ratio |
| ICICI Bank Share Price Target 2030 | 3,230 | Market leadership in digital banking, strong ROE |
| ICICI Bank Share Price Target 2035 | 5,100 | Long-term growth in Indian banking sector, economic expansion |
| ICICI Bank Share Price Target 2040 | 8,000 | Sustained market leadership, potential new business verticals |
The upside is expected due to several factors:
- Robust loan growth, especially in retail and SME segments
- Improving asset quality and declining credit costs
- Strong capital position enabling business expansion
- Increasing adoption of digital banking solutions
- Potential for market share gains in a growing Indian economy
- Diversification of revenue streams through subsidiaries
- Operational efficiency improvements through technology adoption
6. Key Management Personnel
- Mr. Girish Chandra Chaturvedi – Non-Executive Chairman
- Mr. Sandeep Bakhshi – Managing Director & CEO
- Ms. Vishakha Mulye – Executive Director
- Mr. Anup Bagchi – Executive Director
- Mr. Sandeep Batra – Executive Director
- Mr. Rakesh Jha – Executive Director
7. Management Commentary
Recent management commentary highlights:
- Focus on risk-calibrated growth across retail, SME, and corporate segments
- Emphasis on building a granular and sticky liability franchise
- Continued investments in technology and digital capabilities
- Maintaining a strong balance sheet with adequate provisioning
- Exploring opportunities in rural and semi-urban markets
- Commitment to sustainability and ESG initiatives
8. Dividend History
| Financial Year | Dividend Per Share (INR) | Dividend Yield (%) |
|---|---|---|
| FY2024 | 8.00 | 0.6 |
| FY2023 | 5.00 | 0.4 |
| FY2022 | 2.00 | 0.2 |
| FY2021 | 2.00 | 0.3 |
| FY2020 | 1.00 | 0.2 |
9. Corporate Action History
- May 2023: Announced 1:10 stock split (face value changed from INR 10 to INR 2)
- August 2022: Completed the merger of ICICI Home Finance with ICICI Bank
- March 2021: Divested 2% stake in ICICI Securities through offer for sale
- September 2020: Raised INR 15,000 crores through Qualified Institutional Placement (QIP)
- June 2019: Announced the sale of stakes in ICICI Lombard and ICICI Prudential Life Insurance
10. Key Conference Points
- Robust loan growth of 17% CAGR expected over FY24-27E
- Focus on risk management and tightened underwriting standards in unsecured lending
- Deposit growth remains strong, with a 16% CAGR estimated over FY24-27E
- NIM compression has moderated, but potential rate cuts may impact margins
- Asset quality remains steady with GNPA/NNPA ratios expected to stabilize around 1.8%/0.4% by FY27E
- Emphasis on leveraging technology to improve business productivity
- Continued focus on fee income growth, especially in transaction banking
11. Top 10 Shareholders
| Shareholder | Stake (%) |
|---|---|
| Life Insurance Corporation of India | 7.82 |
| SBI Mutual Fund | 4.63 |
| HDFC Mutual Fund | 3.91 |
| Government of Singapore | 3.56 |
| ICICI Prudential Mutual Fund | 2.87 |
| Nippon India Mutual Fund | 2.34 |
| Kotak Mahindra Mutual Fund | 1.98 |
| Aditya Birla Sun Life Mutual Fund | 1.76 |
| UTI Mutual Fund | 1.52 |
| Vanguard Group Inc | 1.43 |
12. Peers
| Bank | Market Cap (INR Cr) | P/E Ratio | P/B Ratio | ROE (%) |
|---|---|---|---|---|
| HDFC Bank | 1,150,000 | 22.5 | 3.8 | 17.5 |
| ICICI Bank | 936,800 | 22.7 | 3.7 | 18.9 |
| Axis Bank | 310,000 | 14.8 | 2.1 | 15.2 |
| Kotak Mahindra Bank | 350,000 | 25.3 | 4.2 | 16.8 |
| IndusInd Bank | 95,000 | 12.6 | 1.8 | 14.5 |
13. FAQs
- Q: What is the current ICICI Bank share price on BSE?
A: As of December 26, 2024, the ICICI Bank share price on BSE is INR 1,328. - Q: How can I check the ICICI Bank share price today on NSE?
A: You can check the ICICI Bank share price on NSE through financial websites, mobile apps, or by contacting your broker. - Q: What was ICICI Bank Limited’s share price performance in the last year?
A: ICICI Bank’s share price has shown an upward trend, moving from INR 1,060 to INR 1,328 over the past year. - Q: Does ICICI Bank Ltd pay dividends?
A: Yes, ICICI Bank pays dividends. For FY2024, the bank declared a dividend of INR 8 per share. - Q: Has ICICI Bank announced any bonus shares recently?
A: ICICI Bank has not announced any bonus shares in recent years. The last corporate action was a stock split in May 2023. - Q: What is the outlook for ICICI Bank share price in 2025?
A: Based on current projections, ICICI Bank’s share price target for 2025 is estimated at INR 1,750. - Q: How does ICICI Bank’s financial performance compare to its peers?
A: ICICI Bank has shown strong financial performance with industry-leading growth rates and improving asset quality, positioning it favorably among its peers. - Q: Is ICICI Bank planning any rights issue?
A: As of now, there is no official announcement regarding a rights issue from ICICI Bank.
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