BSE:532174

Stock Analysis Report

Executive Summary

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

Rewards

Earnings are forecast to grow 40.98% per year

Earnings grew by 124.4% over the past year

Risk Analysis

No risks detected for 532174 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: 532174 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-9.3%

532174

-2.8%

IN Banks

-3.9%

IN Market


1 Year Return

40.3%

532174

5.3%

IN Banks

4.5%

IN Market

Return vs Industry: 532174 exceeded the Indian Banks industry which returned 5.3% over the past year.

Return vs Market: 532174 exceeded the Indian Market which returned 4.5% over the past year.


Shareholder returns

532174IndustryMarket
7 Day-9.3%-2.8%-3.9%
30 Day-5.8%-3.5%-3.9%
90 Day-3.1%-7.9%-2.1%
1 Year40.7%40.3%5.7%5.3%6.4%4.5%
3 Year100.6%97.8%10.7%9.5%19.4%12.8%
5 Year65.2%56.9%5.9%2.5%28.2%16.6%

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?

35.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 532174 (₹496.05) is trading above our estimate of fair value (₹23.28)

Significantly Below Fair Value: 532174 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 532174 is poor value based on its PE Ratio (35x) compared to the Banks industry average (16.6x).

PE vs Market: 532174 is poor value based on its PE Ratio (35x) compared to the Indian market (12.8x).


Price to Earnings Growth Ratio

PEG Ratio: 532174 is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: 532174 is overvalued based on its PB Ratio (2.8x) compared to the IN Banks industry average (0.6x).


Next Steps

Future Growth

How is ICICI Bank forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

41.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 532174's forecast earnings growth (41% per year) is above the savings rate (6.5%).

Earnings vs Market: 532174's earnings (41% per year) are forecast to grow faster than the Indian market (20.4% per year).

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

Revenue vs Market: Insufficient data to determine if 532174's revenue is forecast to grow faster than the Indian market.

High Growth Revenue: Insufficient data to determine if 532174's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 532174's Return on Equity is forecast to be low in 3 years time (15.7%).


Next Steps

Past Performance

How has ICICI Bank performed over the past 5 years?

-16.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 532174 has high quality earnings.

Growing Profit Margin: 532174's current net profit margins (10.7%) are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: 532174's earnings have declined by -16.7% per year over the past 5 years.

Accelerating Growth: 532174's earnings growth over the past year (124.4%) exceeds its 5-year average (-16.7% per year).

Earnings vs Industry: 532174 earnings growth over the past year (124.4%) exceeded the Banks industry 25.5%.


Return on Equity

High ROE: 532174's Return on Equity (9%) is considered low.


Return on Assets


Return on Capital Employed


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

Inventory Level: 532174 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 532174's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

Asset Level: 532174's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if 532174 has a sufficient allowance for bad loans.

Low Risk Liabilities: 532174's liabilities are made up of primarily low risk sources of funding.

Loan Level: 532174 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 532174's loans are broadly funded by customer deposits.

Level of Bad Loans: 532174 has a high level of bad loans (6.76%)


Next Steps

Dividend

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

0.19%

Current Dividend Yield


Dividend Yield vs Market

company0.2%marketbottom25%0.6%markettop25%2.7%industryaverage0.4%forecastin3Years1.0%

Current dividend yield vs market & industry

Notable Dividend: 532174's dividend (0.19%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.62%).

High Dividend: 532174's dividend (0.19%) is low compared to the top 25% of dividend payers in the Indian market (2.69%).


Stability and Growth of Payments

Stable Dividend: 532174 is not paying a notable dividend for the Indian market, therefore no need to check if payments are stable.

Growing Dividend: 532174 is not paying a notable dividend for the Indian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 532174 is not paying a notable dividend for the Indian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 532174's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Sandeep Bakhshi (59yo)

1.3yrs

Tenure

₹55,183,227

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 ($USD769.60K) is below average for companies of similar size in the Indian market ($USD1.11M).

Compensation vs Earnings: Insufficient data to compare Sandeep's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Sandeep Bakhshi
MD, CEO & Executive Director1.3yrs₹55.18m0.0036% 118.4m
Rakesh Jha
Chief Financial Officer6.3yrs₹41.32m0.0012% 40.0m
Ranganath Athreya
GM, Company Secretary & Compliance Officer1.6yrs₹26.07mno data
Vishakha Mulye
Executive Director4.1yrs₹52.15m0.016% 534.6m
Sandeep Batra
President of Corporate Centre & Executive Director0.8yrsno data0.00039% 13.0m
Anup Bagchi
Head of Retail Banking & Executive Director3yrs₹45.89mno data
Ajay Mittal
Chief Accountant0yrsno datano data
Anindya Banerjee
Head of Investor Relations & Senior GM0yrsno data0.00031% 10.3m
Pramod Rao
Group General Counsel1.5yrsno data0.00062% 20.7m
Sanjay Chougule
Senior GM & Head-Group Internal Audit0yrsno data0.00057% 19.0m

1.6yrs

Average Tenure

51.5yo

Average Age

Experienced Management: 532174's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Sandeep Bakhshi
MD, CEO & Executive Director1.3yrs₹55.18m0.0036% 118.4m
Vishakha Mulye
Executive Director4.1yrs₹52.15m0.016% 534.6m
Sandeep Batra
President of Corporate Centre & Executive Director0.8yrsno data0.00039% 13.0m
Anup Bagchi
Head of Retail Banking & Executive Director3yrs₹45.89mno data
Neelam Dhawan
Independent Director2.1yrs₹2.87mno data
Uday Chitale
Additional Independent Director2.1yrs₹4.65mno data
Hari Mundra
Independent Director1.3yrs₹700.00kno data
Subramanian Madhavan
Additional Independent Director0.8yrsno data0.000040% 1.3m
Radhakrishnan Nair
Independent Director1.8yrs₹4.80mno data
Girish Chaturvedi
Non-Executive Chairman1.6yrs₹1.10mno data

1.7yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 532174's board of directors are not considered experienced ( 1.7 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: 532174 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

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: 532174
  • Exchange: BSE
  • Founded: 1955
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₹3.335t
  • Shares outstanding: 6.47b
  • 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 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, 2019, 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 12:41
End of Day Share Price2020/02/28 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.