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ICICI Bank Shares Dip Despite Strong Q2 Results As Brokerages Stay Bullish
- •ICICI Bank shares fell over 1 percent to Rs 1,381, ranking among the top losers on the Nifty 50 amid broader market weakness.
- •The private sector lender reported a 20.1 percent year-on-year rise in standalone net profit to Rs 14,843 crore for the September quarter, beating analyst estimates.
- •Net interest income grew 17.7 percent to Rs 25,339 crore, while total advances and deposits saw strong growth of 30 percent and 27.1 percent respectively.
- •Global brokerages remain highly optimistic, with Goldman Sachs projecting nearly 47 percent upside and firms like JPMorgan, Nomura, Citi, Jefferies, and Bernstein raising their target prices.
Key Questions Answered
ICICI Bank reported a 20.1 percent year-on-year rise in standalone net profit to Rs 14,843 crore for the September quarter, outperforming the CNBC TV18 poll estimate of Rs 14,280 crore. Net interest income (NII) grew 17.7 percent to Rs 25,339 crore, surpassing the estimated Rs 24,811 crore.
Global brokerages maintained bullish ratings on ICICI Bank following its earnings beat. Goldman Sachs maintained a Buy rating with a target price of Rs 2,025, while JPMorgan and Nomura increased their target prices to Rs 1,800 and Rs 1,740, respectively. Citi, Jefferies, and Bernstein also kept positive recommendations, highlighting strong loan growth and healthy profitability.
ICICI Bank shares declined by 1.15 percent to trade at Rs 1,381 on Monday, October 19, 2026, amid a broader market weakness that saw the Nifty drop. Meanwhile, the bank's net interest margin (NIM) narrowed to 4.18 percent, down from 4.36 percent in the previous quarter and 4.30 percent a year earlier.
