![]() The lender has seen steady growth of 17% (CAGR) in its retail portfolio over the past three years which has enabled 12% growth in overall loans. We reiterate ICICIBC as our top Buy in the sector with a TP of INR 1,100 (2.9x FY24E ABV for the core bank),” said analysts at Motilal Oswal Financial Services. It has a strong capitalization with a Tier I of 17.3%, which will support healthy loan growth. We estimate ICICI Bank to deliver 20% CAGR in PPOP over FY22-24E, while RoA reaches the 2% milestone. The bank is witnessing strong recovery across key segments such as Retail, SME, and Business Banking. A healthy mix of the high yielding portfolio (Retail/Business Banking) and a low cost liability franchise is aiding margin expansion. “ICICI Bank has been reporting a robust performance, led by strong core PPOP, controlled provisions, and steady asset quality. Currently, it is trading 6% below its 52-week high.Īxis Bank reports wider-than-expected Q4 loss on Citi deal The stock touched its 52-week high Rs 859.70 and 52-week low Rs 512.10 on 25 October and 28 January, 2021, respectively. In the previous trading session, ICICI Bank shares closed down at Rs 823.35. The stock touched an intraday high of Rs 820 apiece and an intraday low of Rs 803 apiece. ICICI Bank shares on Wednesday were quoting at Rs 807.35 apiece, down 2.15% on BSE. The brokerage firm maintained a ‘buy’ rating on the stock with a target price of Rs 1,100 per share. Motilal Oswal expects the private lender to deliver 18%/20% CAGR in loans/PPOP over FY22-24E. ICICI Bank share price has surged more than 230% in the last five years. ![]() While the stock has corrected nearly 2% in the past five days, it has rallied over 13% in a month, and over 22.8% in the last six months. The stock is likely to rally further on the back of strong industry position, robust digital expansion and steady asset quality. ![]() ![]() ICICI Bank share price has been the best performer in the banking sector as it delivered 80 per cent, 42 per cent returns (YTD) over FY21 and FY22, respectively, according to Motilal Oswal Institutional Equities. ![]()
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