Analyze ICICI Bank in terms of its reported results for Q2 FY2026, Brokerage Target Prices, Growth Projections
| Q2 FY2026 Result |
| ICICI Bank continued to post resilient numbers in the September quarter, supported by robust domestic loan growth and steady asset quality improvements. Profit before tax (excluding treasury) rose 9.1% YoY to ₹16,164 crore (US$1.8 billion). Core operating profit increased 6.5% YoY to ₹17,078 crore (US$1.9 billion). Profit after tax climbed 5.2% YoY to ₹12,359 crore (US$1.4 billion). Average deposits grew 9.1% YoY to ₹15,57,449 crore (US$175.4 billion). CASA ratio averaged 39.2%, indicating a balanced deposit mix. Total deposits (period-end) stood at ₹16,12,825 crore, up 7.7% YoY. Domestic loan portfolio expanded 10.6% YoY to ₹13,75,260 crore. Gross NPA ratio declined to 1.58%, while Net NPA improved to 0.39%. Capital adequacy ratio (CAR) was a strong 17.0%, with a CET-1 ratio of 16.35%. Domestic advances grew 10.6% YoY and 3.3% sequentially. Retail loans grew 6.6% YoY, accounting for 52.1% of total loans. Average current account deposits rose 12.6% YoY, while savings deposits increased 8.5% YoY. Rev +4.4%YoY & +2.1% QoQ PAT +3% YoY, -1% QoQ EPS +2% YoY |
| Q1 FY2026 Result |
| Net profit rises 15.5% YoY at ₹12,768 crore. NII surges 10.6% YoY, reaching ₹21,635 crore in the June quarter, from ₹19,553 crore a year earlier. net NPA at 0.41%, compared to 0.43% last year. Total advances rose over 12% to Rs 13.64 lakh crore, with the retail loan portfolio growing by nearly 7% YoY and comprising 52.2% of the total loan portfolio at end of the quarter. Deposits grew 12.8% YoY, while its branch network expanded to 7,066 branches with the addition of 83 new location in Q1 FY26. Announced acquiring ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) from ICICI Prudential Life Insurance. This is subjected to RBI, PFRDA and other necessary approvals. Among group entities, ICICI Prudential Life Insurance posted a PAT of Rs 302 crore, up from Rs 225 crore a year ago, ICICI Lombard General Insurance recorded a 29% jump in PAT to Rs 747 crore, and ICICI Securities saw a decline in net profit |
| ICICI Bank Brokerage Targets | |
| Avg TP | 1714 |
| Min TP | 1568 |
| Max TP | 1850 |
| TP Trend | Increased |
| Future Growth | Growth % CAGR |
| Sales Growth Avg | 15 |
| PAT Growth Avg | 13 |
| EPS Growth Avg | 13 |
| RoE Trend | -1 |
| Valuation | |
| Forward PE 27 | 17 |