Amidst a buoyant market sentiment, brokerage firms are maintaining a positive outlook on ICICI Bank, India’s second-largest private sector bank. Following the recent disclosure of the bank’s fourth-quarter (Q4) and full fiscal year FY24 financial results, analysts have opted to revise their target prices upwards for the stock.
The Q4FY24 performance surpassed initial projections, with ICICI Bank registering a robust 17% year-on-year surge in net earnings. This impressive growth trajectory was chiefly propelled by a notable expansion in net interest income (NII), coupled with effective cost management strategies and prudent credit risk mitigation measures. The prevailing optimism among analysts underscores a steadfast confidence in ICICI Bank’s financial resilience and strategic trajectory as it charts its course forward in the dynamic banking landscape.
