ICICI Bank Ltd. Brokerage/Research Reports, analyst Research Reports (2024)

Broker Report

ICICI BANK LIMITED

Geojit BNP Paribas

Broker Report

Stable quarter; no sign of major jitters

KRChoksey

Net interest income (NII) grew 7.3% YoY (+2.4% QoQ) to INR 195,529 Mn in Q1FY25. NII was 1.3% lower than our estimates.
Pre-Provision Operating Profit (PPOP) for Q1FY25 grew 13.3% YoY (+6.6% QoQ) to INR 160,248 Mn.

Broker Report

Result Update:ICICI Bank

Axis Direct

We maintain our BUY recommendation on the stock.

Broker Report

ICICI Bank: Q1FY25 Result Review

IDBI Capital

Broker Report

Steady quarter; robust other income drives earnings beat

Motilal Oswal

ICICIBC reported a steady quarter, with 15% YoY growth in net earnings (4% beat).

Broker Report

ICICI Bank | Q1FY25 Result Update

Edelweiss

Well begun is half done

Broker Report

ICICI BANK LTD EQ

Prabhudas Lilladhar

Broker Report

Q1 in-line, other income keeps return ratios steady

Sharekhan

Core earnings were broadly in line but reported earnings were above estimates mainly led by higher
treasury gains and other income which resulted in steady state RoA at ~2.36%.

Broker Report

Healthy performance; NIM will continue to compress but at slower pace

KRChoksey

ICICIBC reported a stable quarter, with performance on par with expectations. Net interest income (NII) grew 8.1% YoY (+2.2% QoQ) to INR 190,928 Mn in Q4FY24.

Broker Report

ICICI Bank (HOLD): Higher operational efficiency/lower provision aid PAT

BOB Capital Markets Ltd.

NII grew 2%/8% QoQ/YoY due to moderation in credit growth, while PAT grew 4%/17% QoQ /YoY supported by lower opex and provision

Broker Report

ICICI Bank: Q4FY24 Result Review

IDBI Capital

Broker Report

ICICI Bank | Q4FY24 Result Update

Edelweiss

Fulfils expectations, plenty levers for growth

Broker Report

Result Update:ICICI Bank

Axis Direct

We reiterate our BUY recommendation, valuing the stock at 2.8x Sep'25E ABV (vs current valuation of 2.7x Sep'25E ABV), its core book and a subsidiary value of Rs 185/share, to arrive at a target price of Rs 1,325/share. The TP implies an upside sof 20% from the CMP.

Broker Report

ICICI Bank

SMC online

Broker Report

Another steady quarter; cost control emerging as additional earnings lever

Motilal Oswal

ICICI Bank (ICICIBC) reported a healthy performance in 4QFY24, with 17%
YoY growth in net earnings (in line) amid contained opex and provisions.
The pace of NIM contraction decelerated, down 3bp QoQ at 4.4% (vs. -
10bp in 3Q).

Broker Report

ICICI BANK LTD EQ

Prabhudas Lilladhar

Broker Report

More of the same good old story; set to hold premium over HDFCB

Emkay

ICICI Bank posted largely in-line PAT at Rs107bn/2.4% RoA in 4Q, mainly led by
healthy margins and contained provisions, and partly offset by a one-off treasury hit due to treasury loss of Rs2.8bn (TRF of negative balance of Rs3.4bn in foreign currency reserve due to closure of the Mumbai unit).

Broker Report

ICICI Bank

Sharekhan

Broker Report

NIMs continued to see pressure while sustaining its superior ROA

KRChoksey

As of December 31, 2023, the loan book stood at INR 11,537,710 Mn, a growth of 18.5% YoY/ 3.9% QoQ, led by 18.8% YoY/ 3.8% QoQ growth in the domestic loan portfolio. The overseas book grew by 10.5% YoY, contributing 3.4% to the overall loan book.

Broker Report

BP Equities Q3FY24 Result Update ICICI Bank

BP Wealth