ICICI BANK Q4FY26 Result Analysis

Outlook

ICICI Bank reported a stable financial performance in Q4FY26 and FY26, with Net Interest Income (NII) growing by 8.43% YoY in Q4FY26 and 8.51% YoY in FY26 over the Q4FY25 and FY25 respectively. Profitability remained healthy, with PAT rising by 8.49% YoY in Q4FY26 and 6.18% YoY in FY26. Operating profit also showed steady growth, reflecting consistency in the bank’s underlying business performance.

Looking ahead, the bank maintains a cautious yet confident stance, focusing on risk-calibrated growth. It continues to expand its reach and strengthen its distribution network, and pursuing a diversified lending strategy across retail, rural, and business banking segments to enhance market share.

It posted an EPS of ₹69.20 and is currently trading at a CMP of ₹1,358, implying a P/E multiple of 19.62x and P/B of 2.88x. At current levels, we believe valuations are reasonable considering its stable growth profile, strong asset quality, and robust fundamentals. We expect the bank to maintain its growth trajectory, supported by its diversified loan mix and consistent performance. Accordingly, we believe the bank is well-positioned to outperform over the medium term to long term.

Results:

Source: Company website, EWL Research

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