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ICICI Bank Ltd
NSE: ICICIBANK BSE: 532174 INE090A01021 Financial Services Bank 🔎 Screen
NIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY Bank Fin. Services
₹1,029,300 Cr
Market Cap
2.85
P/B
4.32%
NIM
15.9%
ROE
1.40%
GNPA
-20.3%
Fin. Margin
+4.1%
% from 52W High
64
α RS
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
Shareholding
About

ICICI Bank is the second-largest private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers. The Bank has an extensive network of branches, ATMs and other touch-points.The ICICI group has presence in businesses like life and general insurance, housing finance, primary dealership, etc, through its subsidiaries and associates.

✓ Strengths

No strengths data yet.

! Concerns 5
  • Stock is trading at 2.72 times its book value
  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.65,46,110 Cr.
  • Earnings include an other income of Rs.1,18,852 Cr.
  • Working capital days have increased from 70.0 days to 118 days
Key Ratios Snapshot
📊 Sector Averages
📈 Growth Pattern
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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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Strong beat: PAT grew 15.9% YoY to ₹14,805 Cr, driven by 13.5% core income growth and tight cost control, though asset quality softened slightly. quarter Investor Presentation One-Pager? Jun 2026
Core Operating Income
₹32,809 Cr
+13.5% YoY; NII +12.7%, fees +23.5%
Core Operating Profit
₹20,235 Cr
+15.6% YoY; cost-to-income improved to 38.1%
PAT
₹14,805 Cr
+15.9% YoY; RoA 2.49%, RoE 17.1%
Loan Growth / NIM
Loans +19.6% YoY / NIM 4.36%
NIM up 2 bps QoQ; CASA ratio slipped to 38.1% avg
What Went Right
  • Core operating profit ex-dividend grew 18.3% YoY to ₹19,125 Cr, ahead of loan growth.
  • Fee income surged 23.5% YoY to ₹7,286 Cr, reflecting strong transactional activity.
  • Cost-to-income ratio improved 70 bps YoY to 38.1%, driving operating leverage.
  • Corporate & business banking loans grew 18.5%/28.2% YoY, well above retail (12.0%).
  • CET1 ratio remained robust at 16.19%, with RWA growth contained relative to advances.
What to Watch
  • Net NPA ratio increased 2 bps QoQ to 0.35%, and gross NPA additions rose to ₹5,552 Cr (Q4: ₹4,242 Cr).
  • Provision coverage ratio fell 110 bps QoQ to 74.7%, indicating lower buffer.
  • Retail credit card portfolio declined 1.9% YoY and 1.7% QoQ – a notable segmental weakness.
  • Average CASA ratio dropped to 38.1% (Q1-2026: 38.7%), with period-end CASA down 2.6% QoQ as deposits shifted to term.
  • Treasury income collapsed 87.8% YoY to ₹151 Cr, removing a prior earnings support.
Investor Lens
ICICI Bank delivered a clean beat on profitability, with 15.9% PAT growth and best-in-class margins (NIM 4.36%, RoA 2.49%). Loan growth broadened – corporate and business banking outpaced sluggish retail, while fee income (up 23.5%) confirmed strong underlying franchise activity. However, two areas merit caution: asset quality, where net NPA ratio ticked up and provision coverage slipped, and deposit mix, with average CASA slipping. The sharp decline in credit card book (down 1.9% YoY) suggests competitive pressures or deliberate de-risking. The $131 bn contingency buffer provides comfort, but with provisions/core op profit rising to 6.2% (from 0.5% in Q4), credit costs may revert toward normalised levels. Next quarter, watch retail credit card trajectory, NIM sustainability given rate resets (~57% of book linked to repo/EBR), and any movement in BB & below corporate watch-list. Thesis remains intact for a high-quality, well-capitalised franchise executing on its growth plan.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED ICICI Bank PAT up 12.6% YoY to ₹16,276 Cr, NIM under pressure.
Revenue
Revenue grew 6.4% YoY to ₹52,241 Cr, aided by other income of ₹27,448 Cr. The sequential increase of 5.3% shows steady momentum.
Profitability
Net profit rose 12.6% YoY to ₹16,276 Cr, with EPS improving to ₹21.52 from ₹19.00. ROE stood at a healthy 16.1%.
Margins
Financing margin (NIM) compressed to -12% YoY and -29% QoQ, indicating pressure on core lending spreads. This warrants monitoring.
Cash Flow
Skip – not applicable for banking/financial companies.
Balance Sheet
The balance sheet remains robust with a ROE of 16.1%. Capital adequacy and loan growth details are not disclosed in this summary.
Key Risks
Key risks include ongoing NIM compression due to rising cost of funds, potential asset quality stress, and regulatory changes in lending norms.
Outlook
The bank is likely to focus on deposit growth and fee income to offset margin pressure. Profitability is expected to remain resilient driven by high other income.
Generated by AI · Jun 2026 results · Not investment advice
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Revenue by Segment

Segment Q3FY26 Q4FY26 Trend
General Insurance
7,366
7,344
intersegment
0
0
Life Insurance
15,459
22,512
Other Banking
1,686
2,069
Others
5,120
4,743
Retail Banking
40,569
40,609
Treasury
33,230
34,339
Wholesale Banking
22,170
23,115
Total 125,599 134,731

Source: NSE Integrated Filing XBRL (Reg. 33 Ind AS). Values in ₹ Crore.

🏦 Banking KPIs

NIM, GNPA, CASA, CAR, ROA, ROE and more — extracted from investor presentations
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Quarterly banking KPIs with historical trend — NIM, GNPA, CASA, CAR and more, AI-extracted from investor presentations
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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The analysis and opinions expressed herein are based on publicly available information, including but not limited to company filings with the BSE/NSE, annual reports, management commentary, investor presentations, data from the Reserve Bank of India (RBI), SEBI, industry publications, and other reliable financial data sources. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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