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ICICI Bank share price traded higher on Monday, July 21, after India’s second-largest private lender reported better-than-expected Q1 FY26 earnings, driven by strong net interest income (NII) and resilient asset quality. At 9:38 AM, the stock was up 1.4 per cent at Rs 1,445.6 on the NSE.
ICICI Bank Q1 resutls highlights
For the quarter ended June 30, 2025, ICICI Bank reported a 15 per cent year-on-year increase in standalone net profit to Rs 12,768.21 crore, surpassing analyst estimates. The bank’s NII stood at Rs 21,634.46 crore, up 8.4 per cent from the year-ago period. Total income (standalone) rose to Rs 51,451.81 crore, compared to Rs 45,997.70 crore last year, while other income surged to Rs 8,504.90 crore, reflecting robust growth in fee and treasury income.
While the bank’s net interest margin (NIM) contracted by 7 basis points to 4.34 per cent, management guided for rangebound margins going forward, noting that the full impact of recent policy rate cuts is yet to play out.
Should you buy, sell or hold ICICI Bank
The market welcomed the strong operational metrics, with several top brokerages raising their ICICI Bank stock forecast:
Goldman Sachs maintained a Neutral rating, increasing its target price to Rs 1,644 from Rs 1,597, citing a beat on core operating profit and well-managed costs.
Jefferies reiterated a Buy rating and raised its target to Rs 1,760, highlighting strong profitability, healthy CASA growth of 14 per cent, and resilient asset quality.
Nomura maintained a Buy rating with a higher target of Rs 1,740, pointing to improving credit growth and steady asset performance.
Macquarie remained bullish, with an Outperform rating and a raised target of Rs 1,795.
CLSA called ICICI Bank a "steady ship in turbulent waters" and increased its target price to Rs 1,700, praising sequential NII growth despite rate cut pressures.
Bernstein maintained a Market Outperform stance with a target of Rs 1,440, stating that strong margins and asset quality offset muted growth.
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