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ICICI Bank

DB:ICBA
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ICBA
DB
₹2,701B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

ICICI Bank Limited provides banking and financial services in India and internationally. The last earnings update was 14 days ago. More info.


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ICBA Share Price and Events
7 Day Returns
-1.8%
DB:ICBA
0.4%
DE Banks
-0.6%
DE Market
1 Year Returns
62.2%
DB:ICBA
-23.5%
DE Banks
-8.3%
DE Market
ICBA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ICICI Bank (ICBA) -1.8% 0.9% 5.9% 62.2% 66.8% 59.2%
DE Banks 0.4% 4.5% -16.3% -23.5% 4.7% -34.6%
DE Market -0.6% 1.8% -3.2% -8.3% 8.9% 10.6%
1 Year Return vs Industry and Market
  • ICBA outperformed the Banks industry which returned -23.5% over the past year.
  • ICBA outperformed the Market in Germany which returned -8.3% over the past year.
Price Volatility
ICBA
Industry
5yr Volatility vs Market

ICBA Value

 Is ICICI Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ICICI Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ICICI Bank.

DB:ICBA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 31 analysts.
= Stable Book Value * Return on Equity
= ₹200.82 * 13.5%
₹27.09
Book Value of Equity per Share Weighted future Book Value estimates from 28 analysts. ₹200.82
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:ICBA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 8.6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 35%) (77.86%))
0.93
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.93 * 8.6%)
8.23%

Discounted Cash Flow Calculation for DB:ICBA using Excess Returns Model Model

The calculations below outline how an intrinsic value for ICICI Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:ICBA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.5% – 8.23%) * ₹200.82)
₹10.57
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹10.57 / (8.23% - 0.23%)
₹132.17
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹200.82 + ₹132.17
₹332.99
DB:ICBA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ICBA represents 0.0258x of NSEI:ICICIBANK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.0258x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 332.99 x 0.0258
€8.59
Value per share (EUR) From above. €8.59
Current discount Discount to share price of €10.80
= -1 x (€10.80 - €8.59) / €8.59
-25.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of ICICI Bank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ICICI Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ICICI Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ICBA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹6.61
NSEI:ICICIBANK Share Price ** NSEI (2019-07-18) in INR ₹418.65
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.05x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ICICI Bank.

DB:ICBA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:ICICIBANK Share Price ÷ EPS (both in INR)

= 418.65 ÷ 6.61

63.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Bank is overvalued based on earnings compared to the DE Banks industry average.
  • ICICI Bank is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does ICICI Bank's expected growth come at a high price?
Raw Data
DB:ICBA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 63.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts
35.9%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.9x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:ICBA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 63.33x ÷ 35.9%

1.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ICICI Bank's assets?
Raw Data
DB:ICBA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹177.24
NSEI:ICICIBANK Share Price * NSEI (2019-07-18) in INR ₹418.65
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.7x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.75x
DB:ICBA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:ICICIBANK Share Price ÷ Book Value per Share (both in INR)

= 418.65 ÷ 177.24

2.36x

* Primary Listing of ICICI Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Bank is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess ICICI Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. ICICI Bank has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ICBA Future Performance

 How is ICICI Bank expected to perform in the next 1 to 3 years based on estimates from 31 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
35.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ICICI Bank expected to grow at an attractive rate?
  • ICICI Bank's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • ICICI Bank's earnings growth is expected to exceed the Germany market average.
  • ICICI Bank's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ICBA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ICBA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 31 Analysts 35.9%
DB:ICBA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 31 Analysts -4%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 12%
Germany Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:ICBA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ICBA Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 740,569 239,618 1
2022-03-31 666,312 220,200 10
2021-03-31 562,435 177,688 27
2020-03-31 481,811 139,872 28
DB:ICBA Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 716,671 -468,498 42,542
2018-12-31 689,001 42,262
2018-09-30 662,221 42,462
2018-06-30 650,571 51,122
2018-03-31 667,341 -538,259 77,122
2017-12-31 658,193 86,524
2017-09-30 654,882 93,694
2017-06-30 644,193 102,774
2017-03-31 619,793 -88,743 101,884
2016-12-31 616,990 85,130
2016-09-30 597,360 90,240
2016-06-30 549,890 94,640

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ICICI Bank's earnings are expected to grow significantly at over 20% yearly.
  • ICICI Bank's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:ICBA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below

All data from ICICI Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ICBA Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 37.20 37.20 37.20 1.00
2022-03-31 34.32 39.50 31.00 9.00
2021-03-31 27.84 34.20 21.07 31.00
2020-03-31 21.84 26.40 15.70 31.00
DB:ICBA Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 6.61
2018-12-31
2018-09-30
2018-06-30
2018-03-31 12.02
2017-12-31
2017-09-30
2017-06-30
2017-03-31 15.91
2016-12-31
2016-09-30
2016-06-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ICICI Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ICICI Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ICICI Bank has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ICBA Past Performance

  How has ICICI Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ICICI Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ICICI Bank's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • ICICI Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ICICI Bank's 1-year earnings growth is negative, it can't be compared to the DE Banks industry average.
Earnings and Revenue History
ICICI Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ICICI Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ICBA Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 716,671.41 42,542.39 195,380.90
2018-12-31 689,000.94 42,261.87 167,314.71
2018-09-30 662,220.94 42,461.87 167,314.71
2018-06-30 650,570.90 51,121.90 83,335.30
2018-03-31 667,340.94 77,121.87 167,314.71
2017-12-31 658,193.20 86,523.85 150,741.76
2017-09-30 654,882.20 93,693.85 150,741.76
2017-06-30 644,193.20 102,773.85 150,741.76
2017-03-31 619,793.20 101,883.85 150,560.86
2016-12-31 616,989.53 85,129.59 130,763.82
2016-09-30 597,359.53 90,239.59 130,763.82
2016-06-30 549,889.53 94,639.59 130,906.13
2016-03-31 517,164.53 101,799.59 130,763.82
2015-12-31 577,836.30 128,578.65 120,830.77
2015-09-30 574,026.30 130,008.65 120,830.77
2015-06-30 549,766.30 126,468.65 120,830.77
2015-03-31 533,566.30 122,468.65 120,736.34
2014-12-31 514,868.76 118,863.66 108,788.67
2014-09-30 499,108.76 114,933.66 108,788.67
2014-06-30 478,058.76 111,263.66 108,788.67
2014-03-31 423,434.76 110,413.66 108,788.67
2013-03-31 403,369.34 96,036.13 98,162.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ICICI Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ICICI Bank used its assets less efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if ICICI Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess ICICI Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ICICI Bank has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ICBA Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of ICICI Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ICICI Bank Company Filings, last reported 3 months ago.

DB:ICBA Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,208,339.43 2,103,241.21 582,359.99
2018-12-31 1,191,180.00 2,142,030.00 728,210.00
2018-09-30 1,172,420.00 2,232,120.00 659,040.00
2018-06-30 1,168,400.00 2,098,190.00 701,330.00
2018-03-31 1,166,378.83 2,294,018.27 639,384.14
2017-12-31 1,158,450.00 2,042,540.00 617,220.00
2017-09-30 1,137,330.00 1,995,420.00 570,070.00
2017-06-30 1,110,680.00 1,865,190.00 492,510.00
2017-03-31 1,094,973.08 1,882,867.56 559,821.59
2016-12-31 1,065,680.00 2,000,270.00 663,530.00
2016-09-30 1,041,260.00 2,184,580.00 569,820.00
2016-06-30 1,003,210.00 2,213,000.00 452,480.00
2016-03-31 974,663.57 2,203,776.56 445,061.46
2015-12-31 971,850.00 2,208,150.00 442,590.00
2015-09-30 937,720.00 2,035,710.00 367,760.00
2015-06-30 903,480.00 2,020,880.00 364,210.00
2015-03-31 872,103.59 2,112,520.03 286,581.25
2014-12-31 884,150.00 1,917,440.00 404,810.00
2014-09-30 849,910.00 1,833,830.00 542,000.00
2014-06-30 816,720.00 1,763,910.00 506,430.00
2014-03-31 784,406.16 1,835,420.69 316,187.18
2013-03-31 704,681.73 1,728,882.19 349,939.24
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • ICICI Bank has an acceptable proportion of non-loan assets held.
  • ICICI Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at ICICI Bank are broadly funded by customer deposits.
  • ICICI Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if ICICI Bank has a sufficient allowance for bad loans without relevant financial data.
  • ICICI Bank has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess ICICI Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. ICICI Bank has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ICBA Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.24%
Current annual income from ICICI Bank dividends. Estimated to be 1.1% next year.
If you bought €2,000 of ICICI Bank shares you are expected to receive €5 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ICICI Bank's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • ICICI Bank's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:ICBA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 31 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:ICBA Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 5.00 1.00
2022-03-31 5.94 11.00
2021-03-31 4.87 28.00
2020-03-31 3.73 27.00
DB:ICBA Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-24 1.000 0.234
2018-07-31 1.500 0.423
2018-05-07 1.500 0.526
2017-05-24 2.273 0.759
2017-05-03 2.273 0.832
2016-04-29 4.546 1.926
2015-07-24 4.546 2.000
2015-05-29 4.546 1.630
2015-04-27 4.546 1.579
2014-07-25 4.182 1.415
2014-05-30 4.182 1.598
2014-04-25 4.182 1.682
2013-07-31 3.636 1.946
2013-05-22 3.636 1.886
2013-04-26 3.636 1.707
2012-04-27 3.000 1.651
2011-05-13 2.546 1.581
2011-04-29 2.546 1.304
2010-09-29 2.182 1.102
2010-05-24 2.182 1.287
2010-04-26 2.182 1.331
2009-09-29 2.000 1.246
2009-06-01 2.000 1.475
2009-04-27 2.000 1.864
2008-09-29 2.000 2.852

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ICICI Bank is not paying a notable dividend for Germany, therefore no need to check if the payments are stable.
  • ICICI Bank is not paying a notable dividend for Germany, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of ICICI Bank's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of ICICI Bank's dividends as it is not paying a notable one for Germany.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6x coverage).
X
Income/ dividend checks
We assess ICICI Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ICICI Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ICICI Bank has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ICBA Management

 What is the CEO of ICICI Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sandeep Bakhshi
COMPENSATION ₹55,183,227
AGE 59
TENURE AS CEO 0.8 years
CEO Bio

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 served as Chief Operating Officer and Whole-time Director of ICICI Bank Ltd. since July 31, 2018. He served as an Executive Director of ICICI Bank Ltd. from May 1, 2009 to July 31, 2010. He was a Non-Executive Director of ICICI Prudential Life Insurance Company Limited since June 18, 2018 till October 5, 2018. He previously served as its Executive Director since August 1, 2010 to June 18, 2018. He was Non-Executive Non-Independent Director of ICICI Lombard General Insurance Company Ltd since June 26, 2018 to October 5, 2018. He is a Director at ICICI Prudential Asset Management Company Limited. Mr. Bakhshi has extensive experience of leading both corporate and retail businesses across ICICI Group. He was the Managing Director and Chief Executive Officer of ICICI Prudential Life Insurance Company Limited, a subsidiary of ICICI Bank Ltd since August 1, 2010 until June 18, 2018. Mr. Bakhshi served as the Deputy Managing Director and Head of Retail of ICICI Bank Ltd. and he headed the wholesale business. Mr. Bakhshi was responsible for the non-life insurance business of ICICI Group. Mr. Bakhshi served as the Chief Executive Officer and Managing Director of ICICI Lombard General Insurance Company Limited of ICICI Bank Ltd., since March 19, 2007 until April 30, 2009. He joined ICICI in 1986 as an Officer in the Operations Department in the Northern Zonal office, Delhi. His work responsibilities included business development, project appraisals, project monitoring and business re-structuring. He served as Senior Vice President of ICICI since 1996. He was also handed over the charge of risk management for the Northern Zonal office. He subsequently looked after the corporate clients for the Northern and Eastern regions of ICICI Limited before joining ICICI Lombard in 2002. He serves as the Chairman at ICICI Prudential Pension Funds Management Company Limited. He served as the Chairman of the Board of ICICI Home Finance Company Limited from May 1, 2009 to April 8, 2010. He served as a Director of ICICI Securities Limited. He served as an Executive Director of ICICI Lombard General Insurance Company Limited since May 1, 2009 until July 31, 2010. Mr. Bakhshi served as a Director of Bhushan Steel Limited from April 30, 2006 to March 26, 2009. He is a Mechanical Engineer (Bachelor of Mechanical Engineering) from Punjab Engineering College, Chandigarh and has a post-graduate degree in Management from Xavier Labour Relations Institute Jamshedpur (XLRI).

CEO Compensation
  • Insufficient data for Sandeep to compare compensation growth.
  • Sandeep's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the ICICI Bank management team in years:

1.8
Average Tenure
49.5
Average Age
  • The average tenure for the ICICI Bank management team is less than 2 years, this suggests a new team.
Management Team

Sandeep Bakhshi

TITLE
MD, CEO & Executive Director
COMPENSATION
₹55M
AGE
59
TENURE
0.8 yrs

Rakesh Jha

TITLE
Chief Financial Officer
COMPENSATION
₹41M
AGE
47
TENURE
5.8 yrs

Ranganath Athreya

TITLE
GM, Company Secretary & Compliance Officer
COMPENSATION
₹26M
AGE
53
TENURE
1 yrs

Vishakha Mulye

TITLE
Executive Director
COMPENSATION
₹52M
AGE
50

Anup Bagchi

TITLE
Head of Retail Banking & Executive Director
COMPENSATION
₹46M
AGE
48
TENURE
2.7 yrs

Balachander Prasanna

TITLE
AGE
49
TENURE
2.7 yrs

Ajay Mittal

TITLE
Chief Accountant

Anindya Banerjee

TITLE
Head of Investor Relations & Senior GM

Pramod Rao

TITLE
Group General Counsel
AGE
45
TENURE
0.9 yrs

Sandeep Batra

TITLE
President of Corporate Centre & Executive Director
COMPENSATION
₹14M
AGE
53
Board of Directors Tenure

Average tenure and age of the ICICI Bank board of directors in years:

1.2
Average Tenure
59.5
Average Age
  • The average tenure for the ICICI Bank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Girish Chaturvedi

TITLE
Non-Executive Chairman
COMPENSATION
₹1M
AGE
65
TENURE
1 yrs

Sandeep Bakhshi

TITLE
MD, CEO & Executive Director
COMPENSATION
₹55M
AGE
59
TENURE
1.1 yrs

Vishakha Mulye

TITLE
Executive Director
COMPENSATION
₹52M
AGE
50
TENURE
3.5 yrs

Anup Bagchi

TITLE
Head of Retail Banking & Executive Director
COMPENSATION
₹46M
AGE
48
TENURE
2.4 yrs

Balachander Prasanna

TITLE
AGE
49

Sandeep Batra

TITLE
President of Corporate Centre & Executive Director
COMPENSATION
₹14M
AGE
53
TENURE
0.2 yrs

Uday Chitale

TITLE
Additional Independent Director
COMPENSATION
₹5M
AGE
70
TENURE
1.5 yrs

Neelam Dhawan

TITLE
Independent Director
COMPENSATION
₹3M
AGE
60
TENURE
1.5 yrs

Radhakrishnan Nair

TITLE
Independent Director
COMPENSATION
₹5M
AGE
63
TENURE
1.2 yrs

Rama Bijapurkar

TITLE
Independent Director
COMPENSATION
₹350K
AGE
62
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess ICICI Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. ICICI Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ICBA News

Simply Wall St News

ICBA Company Info

Description

ICICI Bank Limited provides banking and financial services in India and internationally. It operates in Retail Banking, Wholesale Banking, Treasury, Other Banking Business, Life insurance, General insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits. It also provides home, car, two wheeler, personal, gold, and commercial business loans, as well as loans against securities and other loans; business loans, such as working capital finance, term loans, collateral free loans, loans without financials, finance for importers and exporters, and secured loans for credit card swipes, as well as loans for new entities, and schools and colleges; and credit, debit, prepaid, travel, and corporate cards. In addition, the company offers insurance products; pockets wallet; fixed income products; investment products, such as mutual funds, gold monetization schemes, and initial public offerings, as well as other online investment services; and farmer finance, tractor loans, and micro banking services, as well as other services to agri traders and processors, and agri corporates. Further, it provides portfolio management, trade, foreign exchange, locker, private and NRI banking, and cash management services; family wealth and demat accounts; commercial and investment banking, capital market, custodial, project and technology finance, and institutional banking services, as well as Internet, mobile, and phone banking services. Additionally, the company offers securities investment, broking, trading, and underwriting services; and merchant banking, private equity/venture capital fund management, trusteeship, housing finace, and pension fund management services. As of March 31, 2018, it had a network of 4,874 branches, 14,987 ATMs, 1,167 insta-banking kiosks, 391,625 POS terminals, and 1,451 cash acceptance machines. ICICI Bank Limited was founded in 1955 and is headquartered in Mumbai, India.

Details
Name: ICICI Bank Limited
ICBA
Exchange: DB
Founded: 1955
₹34,943,969,159
6,452,801,569
Website: http://www.icicibank.com
Address: ICICI Bank Limited
ICICI Bank Towers,
Bandra-Kurla Complex,
Mumbai,
Maharashtra, 400051,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI ICICIBANK Equity Shares National Stock Exchange of India IN INR 24. Sep 1997
BSE 532174 Equity Shares Mumbai Stock Exchange IN INR 24. Sep 1997
NYSE IBN ADR EACH REPR 2 ORD INR10(SPON) New York Stock Exchange US USD 29. Apr 2002
DB ICBA ADR EACH REPR 2 ORD INR10(SPON) Deutsche Boerse AG DE EUR 29. Apr 2002
Number of employees
Current staff
Staff numbers
112,360
ICICI Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 20:58
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/07/04
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.