DB:ICBA

Stock Analysis Report

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Executive Summary

ICICI Bank Limited provides various banking products and financial services in India and internationally.

Rewards

Earnings are forecast to grow 29.98% per year

Earnings grew by 50.4% over the past year

Risk Analysis

No risks detected for ICBA from our risk checks.


Snowflake Analysis

Proven track record with adequate balance sheet.


Similar Companies

Share Price & News

How has ICICI Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ICBA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.6%

ICBA

-0.4%

DE Banks

-1.4%

DE Market


1 Year Return

-21.7%

ICBA

-10.4%

DE Banks

8.0%

DE Market

Return vs Industry: ICBA underperformed the German Banks industry which returned -10.4% over the past year.

Return vs Market: ICBA underperformed the German Market which returned 8% over the past year.


Shareholder returns

ICBAIndustryMarket
7 Day0.6%-0.4%-1.4%
30 Day-9.1%5.7%-1.2%
90 Day-1.9%37.3%12.6%
1 Year-21.7%-21.7%-10.3%-10.4%10.4%8.0%
3 Year6.5%5.8%-51.1%-52.9%4.7%-3.7%
5 Year5.2%1.5%-34.2%-49.6%15.9%0.3%

Price Volatility Vs. Market

How volatile is ICICI Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is ICICI Bank undervalued compared to its fair value and its price relative to the market?

22.81x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ICBA (€7.95) is trading above our estimate of fair value (€3.2)

Significantly Below Fair Value: ICBA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ICBA is poor value based on its PE Ratio (22.8x) compared to the DE Banks industry average (21.2x).

PE vs Market: ICBA is poor value based on its PE Ratio (22.8x) compared to the German market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: ICBA is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: ICBA is overvalued based on its PB Ratio (1.8x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is ICICI Bank forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

30.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICBA's forecast earnings growth (30% per year) is above the savings rate (0.2%).

Earnings vs Market: ICBA's earnings (30% per year) are forecast to grow faster than the German market (23.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if ICBA's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if ICBA's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ICBA's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has ICICI Bank performed over the past 5 years?

-11.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICBA has high quality earnings.

Growing Profit Margin: ICBA's current net profit margins (11.3%) are higher than last year (8.7%).


Past Earnings Growth Analysis

Earnings Trend: ICBA's earnings have declined by 11.6% per year over the past 5 years.

Accelerating Growth: ICBA's earnings growth over the past year (50.4%) exceeds its 5-year average (-11.6% per year).

Earnings vs Industry: ICBA earnings growth over the past year (50.4%) exceeded the Banks industry 1.4%.


Return on Equity

High ROE: ICBA's Return on Equity (8.9%) is considered low.


Next Steps

Financial Health

How is ICICI Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ICBA's Assets to Equity ratio (10.8x) is moderate.

Allowance for Bad Loans: Insufficient data to determine if ICBA has a sufficient allowance for bad loans.

Low Risk Liabilities: 64% of ICBA's liabilities are made up of primarily low risk sources of funding.

Loan Level: ICBA has an appropriate level of Loans to Assets ratio (48%).

Low Risk Deposits: ICBA's Loans to Deposits ratio (83%) is appropriate.

Level of Bad Loans: ICBA has a high level of bad loans (5.8%).


Next Steps

Dividend

What is ICICI Bank current dividend yield, its reliability and sustainability?

1.29%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ICBA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ICBA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ICBA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ICBA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ICBA is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ICBA's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Sandeep Bakhshi (60 yo)

1.83yrs

Tenure

₹63,167,010

Compensation

Mr. Sandeep Bakhshi, BE (Mech), PGDM, has been Managing Director and Chief Executive Officer of ICICI Bank Ltd. since October 04, 2018 and has been its Executive Director since June 19, 2018. Mr. Bakhshi s ...


CEO Compensation Analysis

Compensation vs Market: Sandeep's total compensation ($USD843.15K) is below average for companies of similar size in the German market ($USD5.24M).

Compensation vs Earnings: Sandeep's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Sandeep Bakhshi
MD, CEO & Executive Director1.83yrs₹63.17m0.0079%
₹ 2.1m
Rakesh Jha
Chief Financial Officer6.83yrs₹47.81m0.0023%
₹ 599.5k
Ranganath Athreya
GM, Company Secretary & Compliance Officer2.08yrs₹20.83mno data
Vishakha Mulye
Executive Director4.58yrs₹72.36m0.018%
₹ 4.7m
Sandeep Batra
President of Corporate Centreno data₹59.84m0.00039%
₹ 102.1k
Anup Bagchi
Head of Retail Banking & Executive Director3.5yrs₹65.98mno data
Ajay Mittal
Chief Accountantno datano datano data
Anindya Banerjee
Head of Investor Relations & Senior GMno datano data0.00031%
₹ 81.2k
Pramod Rao
Group General Counsel2yrsno data0.00062%
₹ 162.3k
Sanjay Chougule
Senior GM & Head-Group Internal Auditno datano data0.0012%
₹ 303.7k
Akashdeep Sarpal
Country Head - USA7.17yrsno datano data
Balachander Prasanna
Head of Markets & Proprietory Trading and Group Executive3.75yrsno data0.000010%
₹ 2.6k

3.8yrs

Average Tenure

52yo

Average Age

Experienced Management: ICBA's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sandeep Bakhshi
MD, CEO & Executive Director1.83yrs₹63.17m0.0079%
₹ 2.1m
Vishakha Mulye
Executive Director4.58yrs₹72.36m0.018%
₹ 4.7m
Anup Bagchi
Head of Retail Banking & Executive Director3.5yrs₹65.98mno data
Rama Bijapurkar
Independent Non-Executive Director1.58yrs₹1.51m0.000040%
₹ 10.5k
Neelam Dhawan
Independent Non-Executive Director2.58yrs₹2.55mno data
Uday Chitale
Independent Non-Executive Director2.58yrs₹3.55mno data
Lalit Chandel
Government Nominee Director1.67yrsno datano data
Balasubramanyam Sriram
Independent Non-Executive Director1.58yrs₹2.56mno data
Hari Mundra
Independent Non-Executive Director1.83yrs₹3.03mno data
Subramanian Madhavan
Independent Non-Executive Director1.33yrs₹2.65m0.000040%
₹ 10.5k
Radhakrishnan Nair
Independent Non-Executive Director2.25yrs₹4.02mno data
Girish Chaturvedi
Independent Non-Executive Chairman2.08yrs₹5.10mno data

2.1yrs

Average Tenure

62.5yo

Average Age

Experienced Board: ICBA's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ICICI Bank Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ICICI Bank Limited
  • Ticker: ICBA
  • Exchange: DB
  • Founded: 1955
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₹2.323t
  • Listing Market Cap: ₹26.180b
  • Shares outstanding: 6.48b
  • Website: https://www.icicibank.com

Number of Employees


Location

  • ICICI Bank Limited
  • ICICI Bank Towers
  • Bandra-Kurla Complex
  • Mumbai
  • Maharashtra
  • 400051
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
532174BSE (Mumbai Stock Exchange)YesEquity SharesININRSep 1997
ICICIBANKNSEI (National Stock Exchange of India)YesEquity SharesININRSep 1997
IBNNYSE (New York Stock Exchange)ADRUSUSDApr 2002
ICBADB (Deutsche Boerse AG)ADRDEEURApr 2002

Biography

ICICI Bank Limited provides various banking products and financial services in India and internationally. It operates in Retail Banking, Wholesale Banking, Treasury, and Others Banking segments. The compan ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/06 20:53
End of Day Share Price2020/08/06 00:00
Earnings2020/06/30
Annual Earnings2020/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.