ICICI Bank has demonstrated remarkable financial resilience and strong operational performance in the March 2024 quarter (Q4 FY25), which has propelled its stock to a new 52-week high. On Monday, the bank’s shares rose by 2.15% to touch ₹1,437, marking a significant milestone. The stock later settled at ₹1,424.40, reflecting a 1.26% gain for the day. With this upward movement, ICICI Bank has appreciated by 10.90% in calendar year 2025 so far.
One of the most notable developments is that ICICI Bank’s market capitalisation has surpassed the ₹10 lakh crore mark, making it the second-largest Indian bank in terms of market value, behind HDFC Bank. This is a clear signal of investor confidence in the bank’s long-term fundamentals and growth trajectory.
The bank reported a robust 18% year-on-year increase in its profit after tax (PAT), which stood at ₹12,630 crore for the quarter ending March 2024. Its net interest income (NII) also saw an 11% YoY rise, reaching ₹21,193 crore. Fee income was up 16% year-on-year at ₹6,300 crore, while net advances grew by 13.3%, and domestic advances by 13.9% YoY—indicating strong credit growth and business momentum across core segments.
Brokerages responded positively to ICICI Bank’s performance. Motilal Oswal Financial Services noted that the bank delivered a strong surprise despite a volatile macroeconomic environment, increased competition for deposits, and an ongoing normalization in asset quality. They highlighted that banks of ICICI’s scale rarely outperform market expectations to this extent. As a result, Motilal Oswal has revised its earnings estimates upward by 2.5% for FY26 and 4.2% for FY27, reaffirming ICICI Bank as their top pick in the sector. The brokerage has set a revised target price of ₹1,650 for the stock.
Similarly, Nuvama Institutional Equities reiterated ICICI Bank as its top pick, citing the bank’s ability to consistently deliver above-expectation earnings. It suggested that the stock’s premium over its peers is likely to expand further due to the bank’s consistent and strong financial performance. Nuvama has assigned a target price of ₹1,630, reaffirming its bullish stance.
To summarise, ICICI Bank’s Q4 FY25 performance reinforces its position as a leading player in the Indian banking sector. With strong growth across key financial metrics, favourable analyst outlooks, and a rising market valuation, the bank appears well-positioned to sustain its growth momentum and continue delivering value to its shareholders in the coming quarters.
