Motilal Oswal recommends buying ICICI Bank with ₹1,750 target
Motilal Oswal is feeling good about ICICI Bank and suggests buying its shares, aiming for a price of ₹1,750.
This comes after the bank posted a solid profit of ₹14,840 crore in Q2 FY2027, right in line with what the market was hoping for.
Strong core business and careful risk management are behind this confidence.
ICICI Bank loans up 30% YoY
ICICI Bank has been on a growth streak with loans up 30% year-on-year and returns on assets at 2.3%.
Even though net interest margins dipped slightly to 4.18%, the full impact of FCNR(B) is expected to be seen in 3QFY27, and margins are expected to improve from 4Q onwards.
Asset quality is looking better too: bad loan ratios have improved, with GNPA/NNPA ratios improving by 18bp/5bp QoQ at 1.2%/0.3%.
Motilal Oswal even bumped up its earnings forecast for FY2028 by 3%, calling ICICI one of the top picks in banking right now.