ICICI Bank is set to announce its Q4 FY25 earnings on Saturday, April 19, 2025, covering the financial results for the quarter and full year ending March 31, 2025. Analysts expect strong growth in net interest income (NII) and profit after tax (PAT), while net interest margins (NIMs) may witness slight compression due to policy rate cuts.

Robust Growth Expected in Key Financial Metrics

Leading brokerage firms anticipate a healthy year-on-year (YoY) performance from ICICI Bank, India’s second-largest private lender, driven by:

• Strong NII and PPOP growth
• Double-digit PAT increase
• Broad-based loan expansion, especially in the MSME segment

However, on a quarter-on-quarter (QoQ) basis, performance is expected to remain moderate, with NIMs likely to decline slightly due to the impact of falling interest rates.

Brokerage Forecasts: Growth with Margin Pressure

Kotak Institutional Equities

• PPOP Growth: 10% YoY
• Loan Growth: 15% YoY
• Expected NIMs: 4.2% (down 5–10 bps QoQ)
• Key Risks: Higher provisioning (slippages ~Rs 660 crore)
• Outlook: Positive on asset quality; ‘Buy’ rating with a target price of Rs 1,500

Sharekhan

• Expected NII: ₹20,716 crore (↑ 8.5% YoY, ↑ 1.6% QoQ)
• PPOP: ₹17,169 crore (↑ 14% YoY)
• PAT: ₹12,032 crore (↑ 12.4% YoY, ↑ 2% QoQ)
• Key Focus Areas: Deposit growth and NIM guidance
• Rating: ‘Buy’ with a target of ₹1,550

Equirus Securities

• NII: ₹20,715.3 crore (↑ 8.5% YoY)
• PPOP: ₹18,806.6 crore (↑ 25.1% YoY, ↑ 11.4% QoQ)
• Net Profit: ₹11,959.7 crore (↑ 11.7% YoY)
• NIM Forecast: 4.2%, down 5 bps QoQ
• Rating: ‘Long’ with a target of ₹1,480
• Monitorables: Asset quality in unsecured retail, credit demand trends

Nuvama Institutional Equities

• NII Growth: 15% YoY
• Operating Income: ₹28,529 crore
• PPOP: ₹17,732.8 crore (↑ 18% YoY)
• Net Profit: ₹19,707.5 crore (↑ 15% YoY)
• Margins: Down 13 bps YoY; QoQ improvement of 2 bps
• Trading Gains: Estimated ₹680 crore

ICICI Bank Share Performance Ahead of Results

On April 17, 2025, ICICI Bank shares hit a 52-week high of ₹1,408.60 before settling at ₹1,406.65, up 3.68% for the day. The stock has gained nearly 35% from its 52-week low of ₹1,048.35 in April 2024, pushing its market capitalization above ₹10 lakh crore.

Dividend Announcement Likely

Alongside the Q4 earnings, ICICI Bank may also announce a dividend for the financial year 2024–25, as per its latest exchange filing. Investors will be closely watching the board’s commentary on deposit rate trends, loan growth, and margin forecasts going forward.

Conclusion: Positive Outlook Despite Margin Concerns

Despite potential margin compression, analysts remain bullish on ICICI Bank’s growth outlook, underpinned by strong loan book performance, controlled asset quality, and consistent profitability. The upcoming results will also be crucial for understanding the bank’s strategy amid a changing interest rate environment.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are encouraged to consult certified financial advisors before making investment decisions.