2030 expansion blueprint: HSBC targets India’s growing rich pool in smaller cities
ICICI Bank set out an expansion.
28 Sept 2026 · Business Today Mkts
HSBC recently surfaced as the largest lender to the Indian diaspora under a special foreign-exchange swap initiative, disbursing $10.9 billion out of GIFT City over a three-month period, outpacing ICICI Bank’s second-place figure of $8.4 billion.
The analysis
Against that, the stock is +0.6% on the day at ₹1,350.20, and has returned -4.7% over three months. It sits 8% below its 52-week high. The banks sector has moved -4.0% over the same period, so ICICI Bank is running 0.7 points behind its peers.
For ICICI Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is ICICIBANK.
- Sector exposure: Banks.
- The immediate tone of coverage reads positive.
In this story
Related coverage
ICICI Prudential Life Insurance to focus on growing absolute VNB amid slump in FY24
ICICI Pru Life Q4 net profit falls 26% to Rs 174 cr, insurer announces dividend
Gujarat State Petronet falls sharply from day#39;s high as tariff cut triggers flurry of downgrades
Indian banks face a Q2 paradox: FCNR boosts loan growth but margins shrink
Up to 52% upside - Jindal SAW, SBI Life, ICICI Bank shares | 360 ONE's21 biggest bets for investors - Check full list