| Comment | 30.800 | Don Reed | Doesn't own this one, as it is primarily a valuation issue. They are having some difficulties but no more than many of the other banks. | 2008-08-28 | |
| HOLD | 35.670 | David Driscoll | Global Bank, second largest in India. Emerging market exposure. | 2008-08-11 | |
| DON'T BUY | 27.130 | David Driscoll | Inflation in India is running close to 11% right now. The government is trying to hold back on lending practices for the banks and this is bringing down the PE multiple. $15-$17 might be a decent entry point. | 2008-07-04 | |
| BUY | 32.670 | Paul Harris, CFA | Indian bank. Has been volatile. Not a cheap bank. The interesting thing is that it is in an emerging market that is growing at 8% to 10% a year. Have very few investment products. It will continue to do well. You have to think of this in a 10-year cycle. | 2008-06-25 | |
| DON'T BUY | 37.330 | Patricia Perez-Coutts | Doesn’t seem to have any sub prime issues. Her rule of thumb on banks is to look for those with 2X Price to Book. This one is getting there. Not sure interest rate increases in India are over and this will have negative consequences on lending growth. | 2008-06-17 | |
| BUY on WEAKNESS | 34.670 | David Driscoll | (Market Call Minute.) If it gets below $30, it's worth buying. | 2008-06-09 | |
| Comment | 43.630 | David Driscoll | He would be looking at this again if it got a little bit lower, into the $30's. Sold his holdings in November. | 2008-04-23 | |
| WATCH | 39.560 | Mark Grammer | A retail bank. In the last little while is starting to look good from an investment point of view. Getting close to an entry point.
| 2008-03-18 | |
| WAIT | 35.160 | David Driscoll | It will get interesting again once it gets around the $30 range. The Indian stock market is down 25%. | 2008-03-17 | |
| BUY on WEAKNESS | 53.870 | Don Reed | This is a great Indian bank. Were not as involved in a lot of the subprime issues as others. | 2008-02-22 | |
| BUY | 66.530 | Paul Harris, CFA | Indian Bank. Has done very well. If you are going to play emerging markets, a bank is a good way to do it. Not cheap and there can be some volatility. Over the long term, it's a good place to be. | 2007-11-01 | |
| BUY | 48.020 | Mark Grammer | Very rapidly growing. Well run company. Interesting bank to own. | 2007-09-19 | |
| BUY | 41.600 | Michael Smedley | Very strong, very aggressive #1 totally private bank in India. Extremely good. | 2007-08-09 | |
| PARTIAL SELL | 49.210 | Paul Harris, CFA | This is a bank in India. One of the best way to invest in an emerging market. Suggests taking some profits. | 2007-06-28 | |
| PAST TOP PICK | 49.640 | David Driscoll | (A Top Pick June 29/06. Up 106%.) Just had a 30% increase in their dividend. | 2007-06-22 | |
| BUY | 40.290 | Michael Smedley | A great bank in India. One of the most important of the independents. Doing great expansions overseas, the US and in Canada. | 2007-05-01 | |
| PARTIAL BUY | 44.120 | David Driscoll | 2nd largest bank in India. Just had a real bang on quarter. Loan growth in Canadian banks is in the 6% range and this one is in the 60% range. Earnings were up 25%-30%. Per capita income in India has doubled in the last decade. If you buy, go with half positions as things are getting a little pricey. | 2007-02-15 | |
| DON'T BUY | 42.020 | Charles Lannon | At its 52-week high because the Colombian economy has consistently been high single-digit for several quarters. As had a bit of a run and there are better risk adjusted opportunities in terms of global banks. | 2007-01-09 | |
| BUY | 42.020 | Charles Lannon | It will be volatile, but is growing at about 10 X Canadian banks. | 2007-01-09 | |
| PAST TOP PICK | 39.150 | David Driscoll | (A Top Pick Jan 18/06. Up 37%.) Still buying. Their loan growth is about 60%. Will be volatile. | 2006-12-05 | |
| BUY | 39.300 | Arthur Heinmaa | Even with the big run it has had, it is still fair value. | 2006-11-23 | |
| BUY | 38.070 | Charles Lannon | His top pick in the Indian market, and participating in their growth, for the last couple of years. | 2006-11-17 | |
| PAST TOP PICK | 27.610 | David Driscoll | (A Top Pick May 8/06. Down 7.3%.) When the market sell off occurred between April and June, the emerging market stocks went first. This is a growth stock, not a conservative blue chip. | 2006-08-17 | |
| BUY | 26.680 | Paul Harris, CFA | Remember that you are buying a stock in an emerging market. It has done well. Has come off slightly from its highs. Trading around 18 X earnings. A little bit cheaper but you are buying a bank. A good bank, but can be very volatile. | 2006-08-15 | |
| BUY | 23.650 | Paul Harris, CFA | A good quality bank in India. Probably one of the highest rated banks in the world. If you believe that India will do well over the next little while, a bank would be valuable. A high multiple but over the long term it should do well. | 2006-06-30 | |
| TOP PICK | 24.000 | David Driscoll | Indian market has fallen about 50% and these shares have dropped 30%. Gives a tremendous opportunity. They are trading at a multiple similar to Canadian banks but are growing twice as fast. Very cheap price. | 2006-06-29 | |
| BUY | 26.330 | David Driscoll | Profits are up 27% in the last quarter because of consumer driven loans/mortgage growth in India. A very good bank to own. Use a limit order in the $25.50/26.50 range and see what happens. | 2006-05-25 | |
| TOP PICK | 30.120 | David Driscoll | If you want to be invested in an emerging market growth company, the best way to do it is through the bank. This gives you full exposure to the economy. Earnings just came out recently and earnings growth was very good. A very long-term hold. | 2006-05-08 | |
| WAIT | 27.480 | Paul Harris, CFA | Had a high valuation. Globally, is probably at the highest it has ever been. Too expensive. With an emerging market, you can wait for a pullback before buying. From a long-term prospective, owning this is good. | 2006-04-18 | |
| BUY | 28.990 | David Driscoll | Growing its earnings by about 20% a year. They are moving into other countries internationally were the Indian population is integrating to. Business in India is starting to grow also. A good long-term hold. | 2006-04-06 | |
| BUY | 27.910 | Paul Harris, CFA | And Indian bank and has done quite well. Any bank in a developing world is a good place to be especially where there is good economic growth. Not cheap from a global perspective, but it has much higher growth than most of those banks. | 2006-03-30 | |
| BUY | 32.000 | Mark Grammer | The Indian market has been one of the best for the last couple of years. Long-term, the country looks pretty interesting. The bank is very well positioned. A fairly aggressive bank so a little more risky than some others. Focused more on retail. This may be a stock that you put away for 5 years. | 2006-01-26 | |
| TOP PICK | 28.330 | David Driscoll | This is a great entry through one stock into the Indian market. The 2nd largest bank. With a growth in loans and mortgages it gets the economy going. Capital incomes are starting to rise in India. Growth rate is in the 20/30% range. | 2006-01-18 | |
| BUY | 27.000 | Don Reed | A good bank. Mainly based in India but are expanding out. | 2005-12-06 | |
| BUY | 26.550 | Jonathen Wellum, B. Comm, B. Sc | Very well run business. Gives you good global exposure. | 2005-12-02 | |
| PAST TOP PICK | 24.540 | David Driscoll | (A Top Pick June 28/05. Up 10%.) Unlike Canadian banks, the profit growth in the last quarter was 31%, because the Indian economy is growing much faster than in Canada. Being in India gives good diversification in the financials. | 2005-11-03 | |
| BUY | 23.400 | David Driscoll | His valuation on this stock is in the $30's. Their earnings in the last quarter were up 31%. Growth in loans and mortgages in India is rising. They issued new shares so they could bump up their peer 1capital ratio so the coiuld make more shares available off the New York exchange. | 2005-10-21 | |
| WEAK BUY | 25.480 | Paul Harris, CFA | A very good Indian bank, but it has gone up a lot. If you are playing a merging market, a bankin industry is a good thing because it is global. From a global point of view, it is trading at a very high multiple, but from an Indian bank it is probably trading at a small discount. Doesn't pay as much of a dividend as some of the other banks. | 2005-09-19 | |
| BUY on WEAKNESS | 24.700 | Mark Grammer | A good bank. Growing very fast. Exposed to the retail market. Probably offers a pretty handsome long term proposition. If it pulled back, he woiuld take a good hard look at it. | 2005-08-16 | |
| DON'T BUY | 25.270 | Paul Harris, CFA | You have to remember that you are investing in a bank in a developing country and the stock price could fall by 50%, so you have to have a longer term view. Trades at 18 X earnings and 4 X book which is not cheap. Yields about 1.5%. | 2005-08-12 | |
| BUY | 25.330 | Don Reed | Particularily good at processing. Have transfer agency services, fund account services, etc. and have recently been expanding into North America. Good on the technology side. | 2005-07-25 | |
| TOP PICK | 22.130 | David Driscoll | The 2nd largest bank in India where per capita incomes have been growing hugely. Commercial and personal loans have been rising about 25%. Good long term purchase. | 2005-06-28 | |
| BUY | 22.130 | Mark Grammer | A really well run company. Has pretty decent growth rates. | 2005-06-28 | |
| BUY | 21.110 | Mark Grammer | A well run bank. Relatively young bank. Focused on the Indian consumer. The consumer in India is coming to life. | 2005-02-08 | |
| BUY | 14.410 | Mark Grammer | A consumer bank and the consumer in India is going to grow. A good long term company. | 2004-10-15 | |
| BUY | 12.320 | Mark Grammer | For a play on the financial growth in India, use HDFC or ICICI. | 2004-07-21 | |
Experts that have talked about ICICI Bank Ltd.
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