ICICI Bank posted an excellent performance in Q3FY25, earning positive reviews from brokerages due to its strong profit growth, stable asset quality, and superior performance compared to peers. The bank’s focus on improving efficiency and maintaining its leadership in asset quality strengthened its position as a top choice for investors.
Income growth boosts investor confidence
India’s second largest lender reported that a Year-on-year increase in profit by 15 percent to Rs 11,792 croreindicating its ability to support strong wage growth. Net interest income (NII) rose 9 percent to Rs 20,371 crore, slightly below Zee Business estimates of Rs 20,634 crore. Despite a marginal dip in net interest margin (NIM) to 4.25 percent from 4.27 percent in the previous quarter, ICICI Bank’s profitability metrics remained strong.
The quality of the goods remains the main factor
The bank’s net non-performing assets (NPA) improved marginally to 1.96 percent, down from 1.97 percent in Q2FY25 and 2.3 percent last year. Gross NPA stood firm at 0.42 percent, showing a decline from 0.44 percent last year. Analysts praised ICICI Bank for maintaining clean asset quality despite challenging market conditions.
CASA’s growth is impacting the industry
Brokerages have highlighted the differences of ICICI Bank Growth of Savings Account (CASA).which exceeded the industry trend of declining deposits. This growth reflects strong customer confidence and a strong deposit base, which is important for liquidity and financial stability.
Cheaper brokerages have higher target prices
Several top brokerages have reaffirmed their positive outlook on ICICI Bank, citing its excellent metrics. Key highlights include:
- Kotak Institutional Equities: Price target of Rs 1,500, driven by high execution.
- Jeffries: Target of Rs 1,600, underscoring the bank’s strong stance on asset quality.
- Bernstein: Rs 1,440 target, praising ICICI Bank’s return on assets (RoA) and cost control.
- JPMorgan: Target raised to Rs 1,500, applauding its CASA performance.
Reviewer’s verdict: A leader among peers
ICICI Bank’s stable performance amid a challenging environment reinforces its reputation as a reliable and growth-oriented institution. As brokerages unanimously agree, the bank remains a compelling investment for those looking for quality in the banking sector.
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