ICICI Bank share price rose 1 percent on April 25 after the private sector lender on April 23 reported a 59.4 percent year-on-year jump in net profit to Rs 7,018.7 crore for the quarter ended March. The lender reported a 20.8 percent on-year growth in net interest income to Rs 12,605 crore for the reporting quarter.
Credit Suisse | Rating: Outperform | Target Price: Raised to Rs 870 | The Q4FY22 holding up on strong growth and profitability. The brokerage firm has tweaked FY23/24 by 1 percent on lower credit costs and continue to believe that ICICI Bank will deliver strong earnings with amongst the top picks, reported CNBC-TV18.
Goldman Sachs | Rating: Buy | Target Price: Rs 938 | The market share gains continue though PPOP-RoA consolidating. The bank is well positioned to structurally report superior RoAs at closer to 1.9 percent, reported CNBC-TV18.
BoFA | Rating: Buy | Target price: Rs 960 | The strong 4QFY22 sets path to 16 percent RoEs in FY23. The strong growth across retail/SME led by digital. Broking firm reiterated buy rating on consistent earnings delivery and further ROE re-rating potential, reported CNBC-TV18.
CLSA | Rating: Buy | Target Price: Rs 1,050 | The bank is now consistently delivering sector-best growth in loans and delivered sector-best core PPOP and an ROE of 16-17 percent. Now expect an RORWA (Return On Risk-Weighted Assets) of 3.1 percent, 40-45 percent higher than last upcycle and expect an RORWA of 3.1 percent, similar to HDFC Bank now, reported CNBC-TV18.
Kotak Institutional Equities | Rating: Buy | Target price: Rs 975 | The company delivered an exceptionally strong performance with 60 percent YoY earnings growth with 20 percent YoY operating profit growth and 60 percent YoY decline in provisions. The healthy loan growth, stable NIM at 4 percent and declining NPL ratios closer to best-in-class banks, reported CNBC-TV18.
Nomura | Rating: Buy | Target Price: Raised to Rs 960 | The Q4 core PPOP growth and asset quality trends intact. The sustainability of core PPOP growth is a key and expect RoE to hit 16 percent in FY24F, reported CNBC-TV18.