ICICI Bank (IBN) Stock Analysis

November 11, 2026

This is a peer-relative look at ICICI Bank (IBN): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Banks peers, so every number reads in context rather than in isolation.

Company Profile

ICICI Bank (IBN) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for ICICI Bank (IBN)
Profile Item	IBN
Name	ICICI Bank Ltd. Sponsored ADR
Country/Region	India
GICS Sector	Financials
GICS Industry Group	Banks
GICS Industry	Banks
GICS Sub-Industry	Diversified Banks
Market Capitalization	121.68 billion USD
Currency	USD
Exchange	NYSE
Listing Date	March 28, 2000
Security Type	ADR

Price Performance

Cumulative Growth

IBN

GSPC

ICICI Bank (IBN) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for ICICI Bank (IBN) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ICICI Bank (IBN) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Total Return (1Y)	14.98%	30.28%
Total Return (3Y, Annualized)	16.22%	26.57%
Total Return (5Y, Annualized)	11.17%	9.43%

Risk Profile

Drawdown History

IBN

GSPC

ICICI Bank (IBN) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for ICICI Bank (IBN) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Volatility (1Y, Annualized)	22.77%	24.34%
Beta (5Y)	0.29	0.72
Max Drawdown (5Y)	-26.24%	-43.36%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. IBN is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Sharpe Ratio (1Y)	0.47	1.08
Sortino Ratio (1Y)	0.74	1.61

Profitability

ROE (TTM)

ICICI Bank (IBN) posts ROE of 16.49%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

IBN

Banks industry group

16.49%

Group distribution

Max: 19.84%
IBN: 16.49%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

Largest peers

JPM: 18.01%
IBN: 16.49%
RY: 16.21%
HSBC: 14.22%
WFC: 12.91%
BAC: 10.73%
MUFG: 9.46%

Where ICICI Bank (IBN) stands on ROE within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

ICICI Bank (IBN) keeps 27.85% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

IBN

Banks industry group

27.85%

Group distribution

Max: 47.19%
Q3: 35.25%
Median: 31.21%
IBN: 27.85%
Q1: 27.11%
Min: 14.93%

Largest peers

HSBC: 41.16%
JPM: 34.59%
RY: 33.87%
BAC: 28.06%
IBN: 27.85%
WFC: 27.64%
MUFG: 27.45%

Where ICICI Bank (IBN) stands on net margin within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

operating margin is set aside for ICICI Bank (IBN) in Banks: the operating-income line is not a clean boundary for this business model, so net margin, ROE, FFO, or industry-specific measures may be more useful.

Profitability Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
ROE (TTM)	16.49%	11.49%
ROA (TTM)	2.10%	1.24%
Net Margin (TTM)	27.85%	31.21%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

ICICI Bank (IBN) grew revenue 9.13%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

ICICI Bank (IBN): Revenue Growth across different time periods, set against Banks industry-group medians.

EPS Growth

ICICI Bank (IBN) grew earnings per share 5.10%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

ICICI Bank (IBN): EPS Growth across different time periods, set against Banks industry-group medians.

Growth Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Revenue Growth (YoY)	9.13%	11.23%
Revenue Growth (3Y CAGR)	18.11%	6.33%
EPS Growth (YoY)	5.10%	16.14%
EPS Growth (3Y CAGR)	16.05%	3.15%

Financial Strength

Current Ratio (MRQ)

current ratio is set aside for ICICI Bank (IBN) in Banks: these balance sheets are not best read through a current/non-current split, so regulatory, funding, or liquidity-coverage measures usually matter more.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for ICICI Bank (IBN) in Banks: leverage is part of the business model itself, so capital adequacy, funding mix, and regulatory measures are usually better risk gauges.

Financial Strength Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

ICICI Bank (IBN) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

IBN

Banks industry group

0.00%

Group distribution

Max: 5.79%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
IBN: 0.00%
Min: 0.00%

Largest peers

MUFG: 406.81%
RY: 3.23%
BAC: 2.33%
WFC: 2.19%
JPM: 1.82%
HSBC: 0.86%
IBN: 0.00%

Where ICICI Bank (IBN) stands on dividend yield within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

ICICI Bank (IBN) has payout ratio of 14.16%, below the peer payout band. More earnings are being kept inside the business, but that is a dividend-policy choice rather than a coverage advantage on its own.

IBN

Banks industry group

14.16%

Group distribution

Max: 70.75%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
IBN: 14.16%
Min: 0.00%

Largest peers

HSBC: 53.57%
RY: 41.49%
MUFG: 34.74%
BAC: 27.62%
WFC: 26.09%
JPM: 25.80%
IBN: 14.16%

Where ICICI Bank (IBN) stands on payout ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
Dividend Yield (TTM)	0.00%	2.39%
Dividend Payout Ratio (TTM)	14.16%	29.26%

Valuation

P/E Ratio (TTM)

ICICI Bank (IBN) trades at P/E ratio of 19.26, above the peer range for its industry. The market is paying unusually heavily for TTM earnings relative to comparable companies.

IBN

Banks industry group

19.26

Group distribution

IBN: 19.26
Max: 18.16
Q3: 13.75
Median: 11.81
Q1: 10.64
Min: 6.49

Largest peers

IBN: 19.26
RY: 17.58
JPM: 14.03
MUFG: 13.71
WFC: 11.84
BAC: 11.79
HSBC: 11.38

Where ICICI Bank (IBN) stands on P/E ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

P/S ratio is not assessed for ICICI Bank (IBN) in Banks: the revenue line is driven by spread economics rather than conventional product or service sales, so book value or earnings usually carry more weight.

P/B Ratio (MRQ)

ICICI Bank (IBN) trades at 2.94 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

IBN

Banks industry group

2.94

Group distribution

IBN: 2.94
Max: 2.28
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

Largest peers

HSBC: 6.87
IBN: 2.94
RY: 2.92
JPM: 2.53
MUFG: 1.64
WFC: 1.59
BAC: 1.26

Where ICICI Bank (IBN) stands on P/B ratio within its Banks peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

ICICI Bank (IBN) metric values compared with Banks industry-group medians
Metric	Current stock: IBN	Industry group median
P/E Ratio (TTM)	19.26	11.81
P/S Ratio (TTM)	--	--
P/B Ratio (MRQ)	2.94	1.32
Free Cash Flow Yield (TTM)	--	--