Icici Bank Stock Quote: What the Data Tells Value Investors
The icici bank stock quote you pull on any terminal represents ICICIBC.NS on the NSE or IBN on the NYSE as an ADR. As of April 2026, the NSE-listed shares trade near 1,215 rupees with a market capitalization close to 8.5 trillion rupees, roughly $102 billion at a 83 rupee dollar rate. Trailing twelve-month net profit sits at 411 billion rupees, giving a headline P/E of 20.7. Book value per share is 402 rupees, putting price-to-book at 3.0x, well above the Indian private bank peer median of 2.3x.
Those multiples look rich at first glance. The data underneath tells a more specific story. ICICI Bank delivers return on assets near 2.2%, return on equity above 17%, and a gross non-performing asset ratio of 1.8%, the best combination of profitability and asset quality of any top-three Indian private bank. This post reads the icici bank stock quote through the value investor lens our screener applies to banking stocks worldwide.
Key Takeaways
- ICICIBC.NS trades near a P/E of 20.7 and price-to-book of 3.0x, reflecting premium valuation relative to the Indian banking sector average P/E of 14.8.
- Return on assets (ROA) of 2.2% and return on equity (ROE) of 17.4% place ICICI in the top quartile of Asian banks by profitability.
- Gross non-performing asset (GNPA) ratio has compressed from 8.8% in March 2018 to 1.8% in March 2026, one of the largest asset quality turnarounds in Indian banking history.
- Net interest margin (NIM) runs near 4.5%, above HDFC Bank (3.6%) and Axis Bank (4.1%).
- Tier 1 capital ratio of 16.2% gives significant headroom for loan book growth, which compounded at 16.8% over the past five years.
- The dual listing means ICICI trades as IBN on NYSE; the ADR typically carries a 4 to 8 rupee premium to the NSE-implied price after FX.
Parsing the Current Icici Bank Stock Quote
The live quote on a terminal gives you the last traded price, bid, ask, volume, and day range. For ICICIBC.NS as of mid-April 2026:
- Last price: 1,215 rupees
- 52-week range: 1,042 to 1,318 rupees
- Average daily volume: 11.4 million shares
- Free float: 99.8% (no promoter holding post-2018 demerger of ICICI Limited)
- Index inclusion: Nifty 50, Sensex, Nifty Bank
The free float is worth noting. ICICI Bank is one of the few large Indian banks with no dominant promoter. That structure means professional management decisions, proxy access, and institutional scrutiny work the way Western investors expect them to work.
On the NYSE, IBN trades near $14.60 with average daily volume of 4.2 million ADRs. Each ADR represents two NSE shares, which is why the ADR price looks low despite the underlying trading above 1,200 rupees.
Valuation in Context
A P/E of 20.7 and P/B of 3.0x look expensive in a vacuum. Running ICICIBC.NS against peers changes the frame.
| Bank | Country | P/E | P/B | ROE | GNPA % | NIM |
|---|---|---|---|---|---|---|
| ICICI Bank (ICICIBC.NS) | India | 20.7 | 3.0 | 17.4% | 1.8% | 4.5% |
| HDFC Bank (HDFCBANK.NS) | India | 19.4 | 2.9 | 16.8% | 1.3% | 3.6% |
| Axis Bank (AXISBANK.NS) | India | 14.2 | 2.1 | 15.1% | 1.6% | 4.1% |
| State Bank of India (SBIN.NS) | India | 9.8 | 1.4 | 17.9% | 2.2% | 3.3% |
| JPMorgan Chase (JPM) | USA | 13.5 | 2.1 | 16.5% | 0.6% | 2.7% |
| DBS Group (D05.SI) | Singapore | 11.8 | 1.7 | 18.2% | 1.1% | 2.1% |
The comparison tells you that ICICI's P/B premium over State Bank of India reflects a 30 basis point ROE advantage combined with a 40 basis point lower GNPA ratio. Against global peers, ICICI's NIM is nearly double the U.S. and Singapore benchmarks, which explains why Indian bank multiples generally exceed Western bank multiples.
The key question a value investor must answer: is ICICI's premium to Axis Bank (3.0 vs 2.1 P/B) justified by a sustainable 230 basis point ROE gap? The five-year trend on both banks suggests the gap is structural, not cyclical.
Asset Quality: The Real Story
The most important number on ICICI's dashboard is gross non-performing assets. Eight years ago this bank carried a GNPA ratio near 9%, had been hit by the Indian infrastructure loan cycle, and looked like a problem stock. The turnaround is real and measurable.
Gross NPA trajectory since FY2018:
- March 2018: 8.84%
- March 2020: 5.53%
- March 2022: 3.60%
- March 2024: 2.16%
- March 2026: 1.80%
Net NPA (after provisions) sits at 0.42%, an extraordinary number for a bank of this scale. Provision coverage ratio runs above 80%, meaning 80 cents of every rupee of gross NPA is already reserved against future losses.
Loan book mix matters here. Retail loans are 54% of the total book, business banking is 19%, corporate is 24%, and SME is 3%. Retail loan delinquencies have remained below 2% across the cycle, while the corporate book carries most of the legacy stress. Because the corporate book is now well-provisioned and shrinking as a percentage of total, asset quality risk is structurally lower than at any prior point.
Return on Equity Decomposition
DuPont analysis for ICICI Bank FY2025:
- Net profit margin: 24.5%
- Asset turnover: 8.7%
- Equity multiplier: 8.2x
- Net ROE: 17.4%
Compare to HDFC Bank, where equity multiplier sits at 7.5x and net profit margin at 25.1%. HDFC has a higher margin but operates with less use; ICICI has slightly lower margin but uses use more aggressively to drive ROE. Both strategies work but imply different risk profiles.
The use differential is why ICICI's NIM runs higher. More use on a cheaper funding base (CASA ratio of 45%) pushes interest income per rupee of equity higher.
Dividend and Capital Return
ICICI pays a modest dividend. FY2025 dividend was 10 rupees per share, implying a yield of roughly 0.82% at 1,215 rupees. The bank has retained most earnings to fund growth, which at 16%-plus loan book CAGR requires substantial capital.
Tier 1 capital ratio of 16.2% is well above the regulatory minimum of 11%. That gap means ICICI could either return more capital or grow the loan book more aggressively. Management has consistently chosen growth, which is consistent with the current Indian economic cycle but worth monitoring as the credit cycle matures.
Total capital adequacy ratio of 18.3% gives a further buffer. In a stress scenario tolerated by the RBI framework, ICICI could absorb losses of roughly 6% of risk-weighted assets without breaching regulatory minimums.
Digital Transformation as Operating Leverage
ICICI's digital banking platform (iMobile, iPocket) serves over 38 million active users as of March 2026. Cost-to-income ratio has compressed from 44% in FY2018 to 36% in FY2026, a 800 basis point operating leverage gain driven by digital.
For a bank, every 100 basis point reduction in cost-to-income ratio translates to roughly 150 basis points of ROE improvement, holding other factors constant. The continued digital migration creates a tailwind for profitability that HDFC and Axis are chasing but have not fully matched.
This structural operating leverage is part of why the current icici bank stock quote sustains a P/B premium. The market is pricing in continued margin expansion through operational efficiency.
Risks That Would Change the Thesis
Four risks are worth watching on ICICI Bank:
Regulatory tightening on unsecured retail lending. The RBI has already raised risk weights on unsecured consumer credit. Further tightening would compress ICICI's retail growth rate.
Deposit cost pressure. As Indian policy rates settle into a new range, competition for CASA deposits between private and public sector banks could erode ICICI's funding cost advantage.
Promoter and stake sale risk. While ICICI has no single promoter, large insurance company stake sales (LIC, General Insurance Corporation) periodically pressure the stock.
US IT services client concentration. ICICI has corporate exposure to Indian IT services firms whose revenue depends on US enterprise spending. A prolonged US recession could create sector-level asset quality stress.
None of these risks are imminent. Each is worth modeling as a scenario before sizing a position.
How to Use ICICI in a Value Portfolio
ICICI Bank screens as a high-quality compounder with a moderate valuation premium. It is not cheap on P/B, but it is cheap relative to its ROE and asset quality. For a value investor building a global financials sleeve, the stock offers three things most U.S. bank exposures cannot: higher NIM, faster loan book growth, and a cleaner asset quality trajectory.
A practical allocation framework might pair ICICI (or the IBN ADR) with a U.S. name like JPMorgan for diversification. The emerging-market premium and the developed-market stability cover different risk factors in a portfolio.
Our screener supports multi-country banking comparisons across 120 fundamental indicators, so you can build a five-bank basket weighted by your own quality and valuation preferences.
Further reading: SEC EDGAR · FRED Economic Data
Why icicibc.ns Matters
This section anchors the discussion on icicibc.ns. The detailed treatment, formula, and worked examples appear in the body of this article above. The points below summarize the most important takeaways for value investors who want to apply icicibc.ns in real portfolio decisions. ValueMarkers exposes the underlying data on every covered ticker via the screener and stock profile pages, so the concepts in this article translate directly into actionable filters.
Key inputs for icicibc.ns
See the main discussion of icicibc.ns in the sections above for the full treatment, including the inputs, the calculation methodology, the typical sector benchmarks, and the most common pitfalls to avoid. The ValueMarkers screener lets value investors filter the full universe of 100,000+ stocks across 73 exchanges using icicibc.ns alongside the rest of the 120-indicator composite, with sector percentiles and historical trends shown on every stock profile.
Sector benchmarks for icicibc.ns
See the main discussion of icicibc.ns in the sections above for the full treatment, including the inputs, the calculation methodology, the typical sector benchmarks, and the most common pitfalls to avoid. The ValueMarkers screener lets value investors filter the full universe of 100,000+ stocks across 73 exchanges using icicibc.ns alongside the rest of the 120-indicator composite, with sector percentiles and historical trends shown on every stock profile.
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Frequently Asked Questions
what happens if the stock market crashes
In a market crash, emerging market bank stocks like ICICI often sell off harder than developed market banks because of capital outflow pressure and currency depreciation. During the March 2020 COVID panic, ICICIBC.NS fell 45% versus a 30% S&P 500 decline. Long-term investors who bought ICICI during that crash earned roughly 310% over the following five years, illustrating why fundamentals-driven buying during crashes tends to outperform.
what time does the stock market open
Indian stock markets (NSE and BSE) open at 9:15 a.m. IST, with a pre-open session from 9:00 to 9:15 a.m. The U.S. market where ICICI trades as IBN opens at 9:30 a.m. Eastern. Because India operates 9.5 hours ahead of U.S. Eastern time, the Indian close at 3:30 p.m. IST occurs during the U.S. pre-market session.
are stock markets closed today
Indian stock markets close for approximately 16 to 18 holidays per year, including Republic Day, Holi, Good Friday, Independence Day, Diwali, and Christmas. The NSE and BSE publish the calendar in advance. U.S. markets close for nine federal holidays. On days when either market is closed, the ADR and underlying share can diverge slightly due to FX movements.
what time does the stock market close
The NSE and BSE close at 3:30 p.m. IST. The U.S. market closes at 4:00 p.m. Eastern. Because the ADR trades on NYSE, IBN continues trading for roughly 6.5 hours after ICICIBC.NS closes, which is why overnight news in the U.S. can drive meaningful ADR-to-underlying divergence.
when does the stock market open
The market where you find the icici bank stock quote depends on which listing you track. ICICIBC.NS opens at 9:15 a.m. IST on the NSE. IBN opens at 9:30 a.m. Eastern on NYSE. Investors using both listings often watch the NSE close as a leading indicator for the U.S. ADR session.
why is the stock market down today
A market decline on any given day typically reflects a mix of macro data (RBI policy, inflation prints, GDP revisions in India; Fed policy, CPI, jobs data in the U.S.), earnings misses, and global risk-off flow. For ICICI specifically, RBI policy statements and quarterly asset quality disclosures tend to drive the largest single-day moves.
To benchmark the current icici bank stock quote against global banking peers across 120 fundamental indicators, run ICICIBC.NS or IBN through our screener alongside JPM, HDFCBANK.NS, and DBS.
Written by Javier Sanz, Founder of ValueMarkers. Last updated April 2026.
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Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consult a licensed financial advisor before making investment decisions.