ICICI Bank price target 2023, 2024, 2025, 2030: In this article, you will learn about ICICI Bank share price target 2023, 2024, 2025, and 2030, along with the fundamentals and financials of the company.
For every investor, it is important to know about the company in which they are investing, to get the confidence to hold the stock for the long term.
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ICICI Bank: Company Profile
ICICI Bank is a leading private sector bank in India. The Bank’s consolidated total assets stood at Rs. 15.74 trillion FY21. ICICI Bank currently has a network of 5,288 branches and 13,834 ATMs across India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its group companies.
ICICI Bank is a large 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 and ATMs. It is at the forefront of leveraging technology and offering services through digital channels like mobile and internet banking.
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- Rs 313 billion core operating profit.
- Rs 161 billion profit after tax.
- 19.12% total capital adequacy ratio.
- 3.69% net interest margin.
- 21% increase in deposist YoY.
- 41% average CASA ratio.
- 20% growth in retail loans YoY.
Total Deposits
Total Advances
ICICI Bank Share Price Target 2023
ICICI Bank focus is on leveraging digital across our businesses saw significant results. The ICICI STACK, its upgraded mobile banking app iMobile Pay, and its InstaBIZ platform for small business customers saw significant adoption and contributed to the growth in the bank business. ICICI Bank focussed on protecting the balance sheet from potential risks. The Bank was proactive in provisioning and also made the provisioning policy more conservative in fiscal 2021. ICICI Bank’s provisioning coverage ratio on NPAs was 77.7% on March 31, 2021. This excludes the Covid-19 related provisions of about 1% of loans, held by the Bank.
ICICI Bank maintained a strong capital position and our capital adequacy ratios were well above the minimum regulatory requirements. We raised `150.00 billion of capital through Qualified Institutions Placement with the objective of further strengthening our capital adequacy and improving our competitive position. Considering all the above factors, ICICI Bank share price target for 2023 is Rs 920.
| ICICI Bank Share Price Target 2023 |
| Rs 940 |
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ICICI Bank Share Price Target 2024
ICICI Bank’s retail business continued to be a key driver of growth in fiscal 2021, as the bank pursued a strategy of building a diversified and granular loan portfolio. The focus in the retail business was on understanding and fulfilling customer needs to be underpinned by personalized banking, simple banking, fair banking, and strong risk management.
The Bank’s retail loan portfolio (including the rural and business banking portfolios) grew by 19.9% year-on-year to 4,892.20 billion on March 31, 2021, compared to a growth of 17.7% in the overall domestic loan book to 6,961.39 billion. Retail loans accounted for 66.7% of total loans, and including non-fund-based outstanding, the share was 55% in the total portfolio.
The Bank’s funding profile remained robust with strong growth in the deposit base. Total savings account deposits increased by 20.3% year-on-year to 2,954.53 billion on March 31, 2021. Total term deposits grew by 18.4% year-on-year to 5,008.99 billion on March 31, 2021.
The growth in the deposit franchise was supported by ongoing efforts to strengthen the Bank’s digital platforms and process simplification to provide a seamless banking experience to our customers. Considering all the abovementioned factors, ICICI Bank share price target for 2024 is Rs 1,190.
| ICICI Bank Share Price Target 2024 |
| Rs 1,190 |
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ICICI Bank Share Price Target 2025
Non-food credit growth of the banking system remained muted in the range of 5.0-7.0% through the year following the slowdown in economic activity due to the Covid-19 pandemic. Non-food credit growth was 5.5% year-on-year on March 26, 2021.
As per data on the sector-wise deployment of credit as of February 26, 2021, released by RBI, retail loans grew by 9.6%, credit to the services sector by 9.3% and credit to the agriculture sector by 10.2% while credit to industry declined by 0.2%. Deposit growth was higher compared to credit growth during fiscal 2021. Growth in total deposits remained above 10.0% throughout fiscal 2021, with year-on-year growth of 11.4% on March 26, 2021.
According to RBI’s Financial Stability Report of December 2020, non-performing assets (NPA) of scheduled commercial banks declined during the first six months of fiscal 2021, with gross NPA ratio at 7.5% and net NPA ratio at 2.1% at September 30, 2020, compared to a gross NPA ratio of 8.5% and net NPA ratio of 3.0% at March 31, 2020.
However, the level of NPAs in September 2020 did not reflect the actual stress in the banking sector due to the moratorium and standstill in asset classification permitted by RBI as part of measures related to the Covid-19 pandemic. Lending institutions were allowed to extend a moratorium on term loan installments and interest on working capital facilities for six months from March 1, 2020, to August 31, 2020, in case of qualifying borrowers, along with a standstill in asset classification as standard. According to RBI, as of August 31, 2020, customers accounting for 40.0% of outstanding bank loans had availed the benefit of the moratorium.
Further, the Supreme Court through an interim order had directed that accounts that were not classified as nonperforming till August 31, 2020, should not be declared non-performing after August 31, 2020, till further orders. This interim order was in force till the pronouncement of the final judgment by the Supreme Court in March 2021, following which accounts were classified as per applicable RBI guidelines.
Several private sector banks, including ICICI Bank, strengthened their capital position by raising equity capital during the year. Banks also generally maintained additional liquidity buffers and made additional provisions to address actual and expected increases in non-performing loans as a result of the pandemic and consequent economic disruption. Banks are the backbone for the Indian economy and for the economy to grow and be stable, ICICI Bank share price target for 2025 is Rs 1,410.
| ICICI Bank Share Price Target 2025 |
| Rs 1,410 |
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ICICI Bank Share Price Target 2030
During fiscal 2021, the ICICI Bank continued to focus on its strategic objective of risk calibrated profitable growth. The core operating profit of the Bank grew by 16.9% during fiscal 2021. The profit after tax increased from 79.31 billion in fiscal 2020 to 161.93 billion in fiscal 2021.
The profit after tax in fiscal 2021 includes the impact of net Covid-19 related provision amounting to 47.50 billion. The ICICI Bank maintained a healthy provisioning coverage ratio on NPAs, Covid-19 related provision of 74.75 billion at March 31, 2021, and a strong capital position with capital adequacy ratios significantly above regulatory requirements.
The ICICI Bank focuses on creating holistic value propositions for its customers by having a 360-degree customer-centric approach and capturing opportunities across customer ecosystems, leveraging internal synergies, building partnerships, and decongesting processes. Cross-functional teams have been created to tap into key customer and market segments, enabling 360-degree coverage of customers and increasing wallet share.
The Bank has also delayered its organizational structure and empowered teams at the local level to create flexibility and agility in capturing business opportunities. This improves the ability of the Bank to connect with customers and respond to their needs.
Technology is core to the ICICI Bank’s business strategy. Using ICICI STACK, the Bank creates digital journeys and aims to offer personalized and customized solutions to customers to suit their life-stage and business needs. ICICI Bank partners with technology companies and platforms to leverage opportunities for growth and enhance service delivery and customer experience.
ICICI Bank leverages technology and analytics for deeper insights into customer needs and behavior. The Bank continues to invest in technology to enhance its offerings to customers as well as the scalability, flexibility, and resilience of its technology architecture. Considering all the above-mentioned factors, and also considering the strong fundamentals and financials of ICICI Bank, ICICI Bank share price target for 2030 is Rs 3,150.
| ICICI Bank Share Price Target 2030 |
| Rs 3,150 |
ICICI Bank Share Price Target 2023, 2024, 2025, and 2030
| Year | Share Price Target |
|---|---|
| ICICI Bank Share Price Target 2023 | Rs 940 |
| ICICI Bank Share Price Target 2024 | Rs 1,190 |
| ICICI Bank Share Price Target 2025 | Rs 1,410 |
| ICICI Bank Share Price Target 2030 | Rs 3,150 |
Frequently Asked Questions
What is the future of ICICI Bank’s share?
ICICI Bank leverages technology and analytics for deeper insights into customer needs and behavior. The Bank continues to invest in technology to enhance its offerings to customers as well as the scalability, flexibility, and resilience of its technology architecture.
Is ICICI Bank share a good buy?
ICICI Bank is one of the best banks in India. If you want to hold for the long term, then you can buy ICICI Bank without any doubt. ICICI Bank is very strong in terms of fundamentals and financials.
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