One of the largest private banks in India is ICICI Bank. It provides financial services to business and individual customers. The bank also offers loans to businesses and individuals and digital payment services. In this article, we have attempted to explain how the firm can expand in the future, what its strategy will be, and whether it can win investors' confidence.
We have used technical and fundamental analysis to describe the company's prospects. Investors expect tremendous growth shortly as ICICI Bank, which is now competing strongly with the country's largest bank HDFC, has shown a significant improvement in performance over the past several years.
This article will address the company's financial performance and business prospects. It will also provide you with ICICI Bank stock price targets for 2024, 2025, 2026, 2027, 2028, 2029, and 2030 based on our research and discussion.
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About ICICI Bank
The Industrial Credit and Investment Corporation of India (ICICI) was established by the government on January 5, 1955. Sir Arcot Ramasamy Mudaliar was chosen as the first Chairman of ICICI Limited. With its registered office in Vadodara and headquartered in Mumbai, ICICI Bank Limited is a global Indian bank and financial services provider. Across India, ICICI Bank has a network of 17,102 ATMs and 6,587 branches.
ICICI Bank Share Current Performance And Market Indicators
Open Price: ₹1,331.00
Today’s Low Price: ₹1,308.50
Today's High Price: ₹1,331.80
Current Price: ₹1316.85
Market capitalization: ₹9,44,227 Cr
P/E Ratio: 20.84
ROE: 16.90%
Dividend Yield: 0.74%
52-Week Low: ₹899.00
52-Week High: ₹1,362.35
Price Change Over the Past Year: +362.80 (38.11% Increase)
ICICI Bank share price is now at ₹1,316.85, slightly lower than ₹1,331.00 at the open. Today's low and high prices are ₹1,308.50 and ₹1,331.80, respectively. The stock has gained ₹362.80 or 38.11% in value over the last year, indicating strong performance.
With a market valuation of ₹9,44,227 crore and a price-to-earnings (P/E) ratio of 20.84, the bank is reasonably valued in proportion to its earnings. ICICI Bank also has a strong track record of profitability, as can be seen from its return on equity (ROE) of 16.90% and dividend yield of 0.74%. The consistent rising trend of the stock is indicated by its 52-week low of ₹899.00 and 52-week high of ₹1,362.35.
ICICI Bank Share Price Target 2025
It is estimated that the share price of ICICI Bank will reach ₹1,490 in 2025. This target is entirely based on the solid foundation of the financial organization, including its multiple revenue sources, green fee management, and strong asset quality.
ICICI Bank Share Price Target 2026
ICICI Bank's share price is expected to rise to ₹1,654 in 2026. The continued growth of this economic group in both urban and rural markets may be the reason for this growth. ICICI Bank's customer experience-building initiative, which includes AI-powered banking solutions and personalized financial products, aims to increase customer engagement and retention.
ICICI Bank Share Price Target 2027
This bank issues more than 1.65 crore credit cards annually. Together with Amazon, this organization has issued about 47 lakh credit cards. Regarding ICICI Bank share price target for 2027, there are two possible prices: ₹1780 for the first target share and ₹2046 for the second target share.
ICICI Bank Share Price Target 2028
Technology upgrades are always released promptly by the bank. By 2028, ICICI Bank's share price target will give excellent returns. Additionally, you are expecting ICICI's share price to go up to ₹2265.
ICICI Bank Share Price Target 2029
In 2029, the share price of ICICI Bank is targeted to reach a level of around ₹2600, based on the research and discussion presented above.
ICICI Bank Share Price Target 2030
Finally, it is estimated that ICICI Bank's share price will reach ₹2960 by 2030. This significant achievement is the result of years of innovative thinking, market development, and strategic planning. The bank's long-term plans and the country's general economic expansion are expected to have a major impact on the share price.
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ICICI Bank Shareholdings
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
Foreign Institutions | 44.53% | 44.38% | 43.64% | 44.78% | 45.47% |
Mutual Funds | 29.22% | 29.67% | 30.69% | 29.73% | 29.18% |
Other Domestic Institutions | 16.03% | 15.84% | 15.56% | 15.62% | 15.52% |
Retail and Other | 10.22% | 10.11% | 10.11% | 9.88% | 9.83% |
The ICICI Bank shareholding chart is referred to from the Groww website.
ICICI Bank Balance Sheet
Balance Sheet of ICICI Bank (in Rs. Cr.) | Mar 24 | Mar 23 | Mar 22 | Mar 21 | Mar 20 |
| 12 mths | 12 mths | 12 mths | 12 mths | 12 mths |
EQUITIES AND LIABILITIES |
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SHAREHOLDER'S FUNDS |
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Equity Share Capital | 1,404.68 | 1,396.78 | 1,389.97 | 1,383.41 | 1,294.76 |
Total Share Capital | 1,404.68 | 1,396.78 | 1,389.97 | 1,383.41 | 1,294.76 |
Revaluation Reserve | 3,083.35 | 3,062.46 | 3,195.66 | 3,093.59 | 3,114.87 |
Reserves and Surplus | 232,505.97 | 195,495.25 | 165,659.93 | 143,029.08 | 112,091.29 |
Total Reserves and Surplus | 235,589.32 | 198,557.72 | 168,855.59 | 146,122.67 | 115,206.16 |
Total ShareHolders Funds | 238,399.32 | 200,715.38 | 170,511.97 | 147,509.19 | 116,504.41 |
Deposits | 1,412,824.95 | 1,180,840.70 | 1,064,571.61 | 932,522.16 | 770,968.99 |
Borrowings | 124,967.58 | 119,325.49 | 107,231.36 | 91,630.96 | 162,896.76 |
Other Liabilities and Provisions | 95,322.73 | 83,325.08 | 68,982.79 | 58,770.37 | 47,994.99 |
Total Capital and Liabilities | 1,871,514.58 | 1,584,206.65 | 1,411,297.74 | 1,230,432.68 | 1,098,365.15 |
ASSETS |
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Cash and Balances with Reserve Bank of India | 89,711.70 | 68,526.17 | 60,120.82 | 46,031.19 | 35,283.96 |
Balances with Banks Money at Call and Short Notice | 50,214.31 | 50,912.10 | 107,701.54 | 87,097.06 | 83,871.78 |
Investments | 461,942.27 | 362,329.74 | 310,241.00 | 281,286.54 | 249,531.48 |
Advances | 1,184,406.39 | 1,019,638.31 | 859,020.44 | 733,729.09 | 645,289.97 |
Fixed Assets | 10,859.84 | 9,599.84 | 9,373.82 | 8,877.58 | 8,410.29 |
Other Assets | 74,380.07 | 73,200.50 | 64,840.12 | 73,411.21 | 75,977.67 |
Total Assets | 1,871,514.58 | 1,584,206.65 | 1,411,297.74 | 1,230,432.68 | 1,098,365.15 |
OTHER ADDITIONAL INFORMATION |
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Number of Branches | 6,523.00 | 5,900.00 | 5,418.00 | 5,266.00 | 5,324.00 |
Number of Employees | 141,009.00 | 126,660.00 | 105,844.00 | 98,750.00 | 99,319.00 |
Capital Adequacy Ratios (%) | 16.33 | 18.34 | 19.16 | 19.12 | 16.11 |
KEY PERFORMANCE INDICATORS |
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Tier 1 (%) | 15.6 | 17.6 | 18.35 | 18.06 | 14.72 |
Tier 2 (%) | 0.73 | 0.74 | 0.81 | 1.06 | 1.39 |
ASSETS QUALITY |
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Gross NPA | 27,313.87 | 299,860.70 | 33,294.92 | 40,841.42 | 40,829.09 |
Gross NPA (%) | 2.26 | 2.87 | 4 | 8 | 6 |
Net NPA | 5,377.79 | 51,500.70 | 6,931.04 | 9,117.66 | 9,923.24 |
Net NPA (%) | 0.45 | 0.51 | 0.81 | 2.1 | 1.54 |
Net NPA To Advances (%) | 0.45 | 0.51 | 1 | 2 | 2 |
CONTINGENT LIABILITIES, COMMITMENTS |
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Bills for Collection | 100,791.76 | 86,454.77 | 75,150.83 | 54,643.42 | 48,216.24 |
Contingent Liabilities | 4,655,761.78 | 4,283,165.45 | 3,867,675.87 | 2,648,640.67 | 2,523,825.80 |
This balance sheet is referred to from the MoneyControl website.
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Conclusion
ICICI Bank has given good returns to its investors; nevertheless, for future returns or investments, you need to re-evaluate as these are the forecasted figures of ICICI Bank. The bank's stock price forecasts for the next several years reflect confidence in its future growth potential as a result of digital transformation, retail banking growth, and India's economic growth.
FAQs
1. Is ICICI Bank a good stock to buy?
Based on MarketsMOJO's 'Strong Buy' recommendation, ICICI Bank looks to be a promising stock to invest in. However, before making a selection, you should perform more research and evaluate your financial objectives.
2. Is ICICI safe to invest?
Yes, investing in mutual funds with ICICI Bank is regarded secure and easy for people wishing to build money.
3. Is ICICI Bank overvalued?
Yes, ICICI Bank is regarded overpriced by almost 18% when compared to its current market price of 1,244.45 INR.
4. Is ICICI Bank growing?
Yes, ICICI Bank is expanding, with an anticipated PPoP/PAT CAGR of 16.7%/13.7% during FY24-26E, and it has increased by approximately 29% in the previous year and 20% year-to-date in 2024.
Disclaimer
This article is just for informational purposes. Forecasting of the share price targets is based on and referred to from various sources, media reports, and predictions done by brokerage houses from time to time.
We also state that we are not SEBI-registered financial advisors. So, kindly, before taking any kind of investment in the shares, please do counsel with the certified financial advisories.
If you have any corrections or find any wrong information, do let us know at our official [email protected].