NYSE:IBN

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Reasonable growth potential 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


Market Performance


7 Day Return

4.2%

IBN

2.9%

US Banks

0.07%

US Market


1 Year Return

42.4%

IBN

8.6%

US Banks

8.9%

US Market

Return vs Industry: IBN exceeded the US Banks industry which returned 8.6% over the past year.

Return vs Market: IBN exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

IBNIndustryMarket
7 Day4.2%2.9%0.07%
30 Day6.2%3.4%-0.3%
90 Day7.2%2.1%-1.6%
1 Year42.7%42.4%11.8%8.6%11.3%8.9%
3 Year64.2%61.8%54.8%44.1%46.3%36.8%
5 Year29.8%23.3%70.2%51.6%62.1%44.3%

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

Valuation

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

45.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IBN ($12.56) is trading above our estimate of fair value ($5.64)

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


Price To Earnings Ratio

PE vs Industry: IBN is poor value based on its PE Ratio (45.5x) compared to the Banks industry average (12.6x).

PE vs Market: IBN is poor value based on its PE Ratio (45.5x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: IBN is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: IBN is overvalued based on its PB Ratio (2.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is ICICI Bank forecast to perform in the next 1 to 3 years based on estimates from 34 analysts?

28.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IBN's forecast earnings growth (28% per year) is above the savings rate (2.7%).

Earnings vs Market: IBN's earnings (28% per year) are forecast to grow faster than the US market (14.5% per year).

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

Revenue vs Market: IBN's revenue (11.5% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: IBN's revenue (11.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IBN'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?

-17.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: IBN's earnings have declined by -17.7% per year over the past 5 years.

Accelerating Growth: IBN's earnings growth over the past year (32.3%) exceeds its 5-year average (-17.7% per year).

Earnings vs Industry: IBN earnings growth over the past year (32.3%) exceeded the Banks industry 29.7%.


Return on Equity

High ROE: IBN's Return on Equity (6.7%) is considered low.


Return on Assets

ROA vs Industry: IBN's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate IBN's Return on Capital Employed to determine if it has improved over the past 3 years.


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: IBN has a low level of unsold assets or inventory.

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


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: IBN has a high level of bad loans (7.01%)


Next Steps

Dividend

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

0.22%

Current Dividend Yield


Dividend Yield vs Market

company0.2%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Years1.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: IBN's dividend (0.22%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: IBN's dividend (0.22%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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

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


Current Payout to Shareholders

Dividend Coverage: IBN is not paying a notable dividend for the US market.


Future Payout to Shareholders

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


Next Steps

Management

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

1.3yrs

Average management tenure


CEO

Sandeep Bakhshi (59yo)

1yrs

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: Insufficient data to establish whether Sandeep's total compensation is reasonable compared to companies of similar size in the US market.

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


Management Age and Tenure

1.3yrs

Average Tenure

51.5yo

Average Age

Experienced Management: IBN's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Age and Tenure

1.4yrs

Average Tenure

61.5yo

Average Age

Experienced Board: IBN's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Sandeep Batra (53yo)

    President of Corporate Centre & Executive Director

    • Tenure: 0.4yrs
  • Vishakha Mulye (50yo)

    Executive Director

    • Tenure: 3.8yrs
    • Compensation: ₹52.15m
  • Sanjay Chougule (55yo)

    Senior GM & Head-Group Internal Audit

    • Tenure: 0yrs
  • Rakesh Jha (47yo)

    Chief Financial Officer

    • Tenure: 6yrs
    • Compensation: ₹41.32m
  • Sandeep Bakhshi (59yo)

    MD, CEO & Executive Director

    • Tenure: 1yrs
    • Compensation: ₹55.18m
  • Pramod Rao (45yo)

    Group General Counsel

    • Tenure: 1.2yrs
  • Anup Bagchi (48yo)

    Head of Retail Banking & Executive Director

    • Tenure: 2.7yrs
    • Compensation: ₹45.89m
  • Ranganath Athreya (53yo)

    GM, Company Secretary & Compliance Officer

    • Tenure: 1.3yrs
    • Compensation: ₹26.07m
  • Ajay Mittal

    Chief Accountant

    • Tenure: 0yrs
  • Anindya Banerjee

    Head of Investor Relations & Senior GM

    • Tenure: 0yrs

Board Members

  • Sandeep Batra (53yo)

    President of Corporate Centre & Executive Director

    • Tenure: 0.4yrs
  • Vishakha Mulye (50yo)

    Executive Director

    • Tenure: 3.8yrs
    • Compensation: ₹52.15m
  • Neelam Dhawan (60yo)

    Independent Director

    • Tenure: 1.8yrs
    • Compensation: ₹2.87m
  • Uday Chitale (70yo)

    Additional Independent Director

    • Tenure: 1.8yrs
    • Compensation: ₹4.65m
  • Sandeep Bakhshi (59yo)

    MD, CEO & Executive Director

    • Tenure: 1yrs
    • Compensation: ₹55.18m
  • Anup Bagchi (48yo)

    Head of Retail Banking & Executive Director

    • Tenure: 2.7yrs
    • Compensation: ₹45.89m
  • Hari Mundra (69yo)

    Independent Director

    • Tenure: 1yrs
    • Compensation: ₹700.00k
  • Subramanian Madhavan (63yo)

    Additional Independent Director

    • Tenure: 0.5yrs
  • Radhakrishnan Nair (64yo)

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: ₹4.80m
  • Girish Chaturvedi (66yo)

    Non-Executive Chairman

    • Tenure: 1.3yrs
    • Compensation: ₹1.10m

Company Information

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


Key Information

  • Name: ICICI Bank Limited
  • Ticker: IBN
  • Exchange: NYSE
  • Founded: 1955
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ₹2.914t
  • Listing Market Cap: ₹41.155b
  • Shares outstanding: 6.46b
  • 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)ADR EACH REPR 2 ORD INR10(SPON)USUSDApr 2002
ICBADB (Deutsche Boerse AG)ADR EACH REPR 2 ORD INR10(SPON)DEEURApr 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 insuranc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:36
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
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.