ICICI Bank is set to report its results for the quarter and financial year ended on March 31, 2025 on Saturday, April 19, 2025. Along with its quarterly earnings, the second largest private lender of the country may announce the dividend for its shareholders for the financial year 2024-25, said its exchange filings.
Brokerage firms tracking the lender believe that ICICI Bank reports a strong set of performance in terms of net interest income (NIIs), pre-provisioning operating profit (PPOP) and net profit growth on a year-on-year (YoY) basis. However, sequential performance (QoQ) may remain flat to single digits due slight contraction in net interest margin (NIMs).
Kotak Institutional Equities expects the PPOP to grow at 10 per cent yoy as we build in slower NII growth, led by the recent cut in policy rates. Loan growth is likely to be at 15 per cent YoY, led by the contribution from all segments, with MSME likely to be growing faster. It also expects NIMs to decline 5-10 bps QoQ at 4.2 per cent. We expect commentary on NIM to be negative to factor in rate cuts.
“We expect provisions growth to be higher as the base quarter had negligible provisions. We are building slippages of 2 per cent (Rs 660 crore). We do not expect any negative commentary on the asset quality. Key discussion areas would be the timing and quantum of deposit rate cuts and its impact on NIM,” said Kotak, which has a ‘buy’ rating and target price of Rs 1,500 on ICICI Bank.
Sharekhan is expecting NIIs to come in at Rs 20,716 crore, up 8.5 per cent YoY and 1.6 per cent QoQ, while PPOP may come in at Rs 17,169 cror,e up 14 per cent YoY and 1.7 per cent YoY. PAT is seen at Rs 12,032 crore, up 12.4 per cent YoY and 2 per cent QoQ. It has a ‘buy’ rating on ICICI Bank with a target price of Rs 1,550. Key monitorable would-be deposit growth and margins outlook, it said.
Ahead of its Q4 results, shares of ICICI Bank scaled its 52-week high at Rs 1,408.60 on Thursday. However, the stock finally settled at Rs 1406.65, rising 3.68 per cent for the day, commanding a total market capitalization of more than Rs 10 lakh crore. ICICI Bank shares have surged about 35 per cent from its 52-week low at Rs 1,048.35 hit in April 2024.
Equirus Securities is expecting ICICI Bank to report NIIs at Rs 20,715.3 crore, up 8.5 per cent YoY and 1.7 per cent QoQ, with NIMs contacting maringally to 4.2 per cent for the quarter. Pre-provision income is seen at Rs 18,806.6 crore, up 25.1 per cent YoY and 11.4 per cent QoQ, while net profit may come in at Rs 11,959.7 crore, up 11.7 per cent YoY and 1.4 per cent QoQ.
Equirus expects robust advances/deposit growth at 4 per cent/4.5 per cent QoQ. It also expects NIMs to marginally decline by 5 bps sequentially. Contained credit cost trends to continue, it added. “Comments on unsecured retail asset quality, retail NIM and credit demand shall be the key things to watch out,” said Equirus, which has a ‘long’ tag on ICICI Bank with a target of Rs 1,480.
Nuvama Institutional Equities is expecting 15 per cent YoY growth in NIIs and OI at Rs 28,529 crore, while PPOP may rise 18 per cent YoY to Rs 17,732.8 crore. Net profit may come in at Rs 19,707.5 crore, up 15 per cent YoY. “Margin is likely to improve 2 bps QoQ but decline 13 bps YoY. Trading gains are expected to be higher at Rs 680 crore. Loans and deposits are expected to grow at 3 per cent each, it said.
