ICICI Bank was founded in 1994 as a wholly-owned subsidiary that later merged with the company. ICICI was established in 1955 as a joint venture of public sector insurance companies, banks, and the World Bank to provide medium- and long-term project financing to businesses in India. The company offers many products, including deposit accounts, commercial and customer cards, investment products, and resident foreign currency accounts. The most prominent areas it serves include personal and business banking, insurance solutions, venture capital, investment banking, securities, and asset management for SMEs, high-net-worth investors, and retail customers. It offers a huge range of financial services and banking products for retail and corporate customers through various channels. It has a network of 5,275 branches and more than 15,500 ATMs in India. It has a presence in over 17 nations worldwide. Overall, the stock is lagging behind in some of the technical parameters, but great earnings make it a stock to examine in more detail.Īn Indian multinational financial services company headquartered in Vadodara, Gujarat, ICICI (Industrial Credit and Investment Corporation of India) Bank Limited is the largest private sector bank in the country. From an O'Neil Methodology perspective, the stock has an EPS Rank of 96 which is a GREAT score indicating consistency in earnings, a RS Rating of 66 which is FAIR indicating the recent price performance, Buyer Demand at B+ which is evident from recent demand for the stock, Group Rank of 80 indicates it belongs to a poor industry group of Banks-Money Center and a Master Score of B is close to being the best. It has recently broken out of a base in its weekly chart and is trading around 6% from the pivot point (which is extended from the ideal buying range for a stock). The stock from a technical standpoint is comfortably placed above its key moving averages, around 6% and 6% from 50DMA and 200DMA. An annual revenue growth of 18% is outstanding, Pre-tax margin of 25% is great, ROE of 15% is good. Icici Bank has an operating revenue of Rs.
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