473.35 -1.95 (-0.41%)
NSENov 27, 2020 03:31 PM
The 68 reports from 19 analysts offering long term price targets for ICICI Bank Ltd. have an average target of 512.18. The consensus estimate represents an upside of 8.20% from the last price of 473.35.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-11-09||ICICI Bank Ltd. +||Arihant Capital||462.70||467.00||462.70 (2.30%)||Target met||Accumulate|
ICICI Bank has reported stable performance during Q2FY21, the sharp 61% QoQ decline in provisions, led to a sharp jump in PAT at Rs 4,251 cr (+64% QoQ). NII for the quarter grew by 16% YoY/1% QoQ to Rs 9,366 cr, driven by loan growth of 6% YoY. PPOP increased by 20% YoY to Rs 8,261 cr, due to strong NII growth and decline in OPEX (-5% YoY). Other income for the quarter declined by 4% YoY to Rs 4,028 cr, supported by treasury gains of Rs 542 cr (including Rs 305 cr from stake sale in ICICI Securities). On the other hand, fee income picked up strongly by 49% QoQ. The bank...
|2020-11-07||ICICI Bank Ltd. +||Geojit BNP Paribas||485.55||496.00||485.55 (-2.51%)||Target met||Buy|
Geojit BNP Paribas
Advances up 6.4% YoY; Deposits growth 19.6% YoY in Q2FY21. NIM further contracted by 12bps QoQ to 3.57% as continued lockdowns translated to lower deposit growth. PAT soared 549.1% YoY helped by lower tax expenses and higher interest income....
|2020-11-03||ICICI Bank Ltd. +||SMC online||442.80||442.80 (6.90%)|
ICICI Bank reported robust moderate 549% growth in net profit at Rs 4251.33 crore for the quarter ended September 2020 (Q2FY2021). Bank has posted healthy 16% growth in net interest income, while exhibited strong improvement in cost-to-income ratio in Q2FY2021. Oneoff revenues from sales of stake in securities business subsidiary also boosted the non-interest income of the bank. Bank has showed stable business growth, while CASA ratio improved in Q2FY2021. The asset quality of the bank has improved in Q2FY2021. Asset quality improves: Bank has exhibited improvement in asset quality in Q2FY2021 with strong recoveries and write offs of loans. Fresh slippages increased to Rs 3017 crore in Q2FY2021 from Rs 1160 crore a quarter ago and...
|2020-11-02||ICICI Bank Ltd. +||HDFC Securities||417.45||503.00||417.45 (13.39%)||6.26||Buy|
Maintain BUY with a revised target price of Rs 503. ICICIBCs 2Q earnings were significantly ahead of estimates, led by better-than-anticipated operating performance and lower-than-expected provisions. Like most banks in 2Q, ICICIBC reported a swift improvement in collections and disbursals. Unlike some banks, ICICBC did see some slippages this quarter (~1.9%). The bank has built significant provision buffers in terms of COVID-19 related (~1.3% of loans), standard assets and other provisions (~0.9%) and specific loan loss provisions (81.6% PCR), which should limit the need for incremental provisions. Lower LLPs are likely to drive return ratios beyond the near term. ICICIBCs robust funding position (CRAR+ deposit franchise) will allow the bank to capture resurgent growth. ICICIBC remains our preferred bet.
|2020-11-02||ICICI Bank Ltd. +||Axis Direct||417.45||453.00||417.45 (13.39%)||Target met||Buy|
|2020-11-02||ICICI Bank Ltd. +||Nirmal Bang Institutional||417.45||548.00||417.45 (13.39%)||15.77||Buy|
Nirmal Bang Institutional
ICICI Bank's 2QFY21 financial performance was better than anticipated. Pre-tax earnings grew by 21% YoY and 65% QoQ (unadjusted for stake sale gains) on account of lower provisions. Adjusted for stake sale gains, operating profit grew by 15.7% YoY and 2.8% QoQ. NII grew by 16.2% YoY and ~1% QoQ as NIM contracted by 7bps YoY and 12bps QoQ to 3.57% on account of excess balance sheet liquidity. In the ensuing quarter, NIM movement would depend on the extent of slippages and consequent interest reversal and liquidity run-down from the current levels. In terms of deposit rates, the scope for further reduction is negligible unless systemic rates decline further. Advances grew by 6.4% YoY and 3.4% QoQ, led by 12.8% YoY growth in retail loans. Within the retail portfolio, mortgages portfolio showed...
|2020-11-02||ICICI Bank Ltd. +||Axis Direct||417.45||504.00||417.45 (13.39%)||6.48||Buy|
|2020-11-01||ICICI Bank Ltd. +||LKP Securities||437.05||471.00||437.05 (8.31%)||Target met||Buy|
Earnings in 2QFY21 acknowledge our conviction that ICICI Bank is preparing for sustainable, prudent and cautious growth despite some exceptional hiccups (Overdue amount of ~3% higher than normal run rate) owing to COVID. The bank has reported its 2QFY21 results with 10 key pointers : 1) The collection efficiencies of overall book stood at 97% of Pre-COVID level, 2) NII growth of 16.2% YoY, with headline NIMs (Domestic: 3.72% & Overall: 3.57%) de-growth of 8bps sequentially owing to higher liquidity available (LCR: 150%), 3) PPoP growth of 20.2% YoY and degrowth of 23.3% sequentially owing to higher base in the previous quarter (stake sale boosted the other income in 1QFY21), 4) Higher slippages (30.1bn v/s 11.6bn) led by retail slippages (58% of total slippages), 5) NNPA further down 23bps to 1%, 6) PCR (excluding technical write-offs)...
|2020-11-01||ICICI Bank Ltd. +||Motilal Oswal||417.45||525.00||417.45 (13.39%)||10.91||Buy|
ICICI Bank (ICICIBC) reported a steady quarter, with earnings driven by steady revenue growth, strong control on operating expenses, and lower provisions. The bank prudently used treasury gains from the 2% stake...
|2020-10-31||ICICI Bank Ltd. +||BOB Capital Markets Ltd.||417.45||500.00||417.45 (13.39%)||5.63||Buy|
|2020-10-30||ICICI Bank Ltd. +||Sharekhan||438.50||525.00||438.50 (7.95%)||10.91||Buy|
ICICI Bank posted strong results for Q2FY2021, with operating performance better than expectations, improvement in collections efficiency (m-o-m) and q-o-q improved asset quality, even on proforma basis. Improving collection efficiency, with strong traction in core fee income (up by 49% q-o-q); retail portfolio up by 12.8% y-o-y and 6.2% q-o-q, indicates improving business activity. Healthy pick up in ROE at 13.2% (from 8.9% in Q1FY2021) with higher CRAR at 18.5% (up 250 bps from Q1FY2021) make a strong quarter Bank is available at 1.7x/1.5x its FY2022E/FY2023E BVPS, but adjusting for...
|2020-10-12||ICICI Bank Ltd. +||Edelweiss||404.05||441.00||404.05 (17.15%)||Target met||Buy|
|2020-09-30||ICICI Bank Ltd. +||Sharekhan||354.75||485.00||354.75 (33.43%)||Target met||Buy|
|2020-09-17||ICICI Bank Ltd. +||Edelweiss||369.00||369.00 (28.28%)||Buy|
|2020-09-01||ICICI Bank Ltd. +||LKP Securities||392.40||461.00||392.40 (20.63%)||Target met||Buy|
Strong COVID & Contingent provisioning and healthy 1QFY21 earnings acknowledge our conviction that ICICI Bank is preparing for sustainable, prudent and cautious growth despite some exceptional hiccups (moratorium book 17.5% V/s 30% earlier) owing to COVID. The bank has made COVID provisioning of 82.75bn in the previous two quarters. The total contingent provisioning (COVID + Standard + General) stands 2.1% of net advances which is the highest among peers. Considering the MORAT (17.5%) we expect ~2.5% of the book may come under stress post moratorium ends. The contingent provisioning is likely to be adequate to mitigate the stress. Furthermore, the bank has reported healthy 1QFY21 results with the key pointers...
|2020-08-25||ICICI Bank Ltd. +||Ventura||394.60||394.60 (19.96%)|
|2020-08-03||ICICI Bank Ltd. +||Geojit BNP Paribas||357.95||415.00||357.95 (32.24%)||Target met||Buy|
Geojit BNP Paribas
In Q1FY21, Advances grew 6.5% YoY to Rs. 631,150cr, partially impacted by lockdown in April and May); Deposits grew by +21.3% YoY. Net interest margin contracted 18bps QoQ to 3.69% on slower growth in deposits led by subdued economy. Reported PAT was up 36.2% YoY. As the economy has largely opened up since June 2020, we expect double digit growth trajectory in advances along with healthy deposits. The bank's asset quality remains intact and digital transformation should aid growth. We reiterate our BUY rating on the stock with a...
|2020-07-27||ICICI Bank Ltd. +||Axis Direct||358.50||480.00||358.50 (32.04%)||Target met||Buy|
ICICI Bank (ICICIBC) reported better than expected performance in Q1FY21 with NII up 19.9/4% YoY/QoQ and Core PPOP up 14.8% YoY. Loan growth moderation (up 6.5% YoY), NIM pressure at 3.7% on higher liquidity and muted fee income was largely expected.
|2020-07-27||ICICI Bank Ltd. +||Nirmal Bang Institutional||358.50||520.00||358.50 (32.04%)||9.86||Buy|
Nirmal Bang Institutional
ICICI Bank reported a strong quarter with a 14.8% YoY growth in core operating profit. Growth in NII was 19.9% YoY and 4% QoQ, led by margin improvement of 8bps YoY to 3.69%. Sequentially, the margin declined by 18bps on the back of lower disbursements and surplus balance sheet liquidity as deposit inflows were robust. Total income (up 38.2% YoY and 17% QoQ) was boosted by stake sale gains in life and general insurance arms worth Rs30.4bn. Coupled with robust growth in core operating profit, the bank was able to create Rs55bn worth of covid-related contingent provisions even as the loan book under moratorium came down to 17.5% (June-end) from 30% (April-end). Fee income was affected...
|2020-07-27||ICICI Bank Ltd. +||SMC online||351.05||351.05 (34.84%)||Results Update|
ICICI Bank reported 36% growth in net profit at Rs 2599.15 crore for the quarter ended June 2020 (Q1FY2021) driven by strong growth in the net interest income as well as non-interest income. The bank has reduced expenses, support sharp increase in operating profit. The net interest margins of the bank has declined on sequential basis due to high liquidity, but it was higher over a year ago level. The bank has witnessed decline in the core fee income due to lockdown and moderation in loan growth. The business growth of the bank was steady at 14% end June 2020 mainly driven by surge in...