What smart money is saying about ICICI Bank Ltd.
No fund has written a full thesis on ICICI Bank Ltd. in our archive, but 10 fund letters report a position in it — most recently Hardman Johnston International Equity in September 2026.
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Fund signal · last 12 months
10 lettersFunds are split between buying and selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2026 and Q3 2026, 10 fund letters reported a position in ICICI Bank Ltd., with 2 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 0 |
| Q2 2026 | 6 | 1 | 2 | 0 |
| Q1 2026 | 2 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 10 positions · 6 moves
- September 2026
Listed in Hardman Johnston International Equity’s reported holdings.
ICICI Bank Ltd. - New positionBaillie Gifford International AlphaSeptember 2026
“In one case, reviewing a holding led us to a better one. We replaced Indian bank HDFC Bank, whose governance and execution have been disappointing, with ICICI Bank, the strongest operator among India’s private banks.”
ICICI Bank Ltd. - June 2026
Listed in Hardman Johnston International Equity Strategy’s reported holdings.
ICICI Bank Ltd. - June 2026
“Energy 13.4 Cameco Corporation Canada 4.8 Oil, Gas & Consumable Fuels Jan. 2026 Gaztransport & Technigaz SA France 4.3 Oil, Gas & Consumable Fuels Sep. 2023 TechnipFMC plc United Kingdom 4.3 Energy Equipment & Services Mar. 2026 Financials 7.7 ICICI Bank Ltd. India 2.6 Banks Aug. 2018”
ICICI Bank Ltd. - TrimmedLiontrust Global Alpha FundJune 2026
“Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.”
ICICI Bank Ltd. - June 2026
Listed in Coronation Global Emerging Markets Equity Strategy’s reported holdings.
ICICI Bank Ltd. - June 2026
“These buys were funded by the sales including Trimble, reducing overall software and long-duration growth and – within the financials sector – Mastercard and ICICI Bank, due to a combination of limited upside to our current price targets and a declining T-Score in our risk system.”
ICICI Bank Ltd. - TrimmedLiontrust Balanced FundJune 2026
“Within the financials sector, a combination of limited upside to our current price targets and a declining T-Score in our risk systems led us to reduce the overall exposure by selling out of Mastercard, ICICI Bank and The London Stock Exchange.”
ICICI Bank Ltd. - March 2026
Listed in Hardman Johnston International Equity Developed Markets’s reported holdings.
ICICI Bank Ltd. - March 2026
“ICICI Bank reported modestly disappointing quarterly results as a result of higher provisioning in its agricultural loan book, which directly impacted net profit. The bank also saw modest NIM pressure during the quarter. The macro environment and energy price shock have the potential to slow down the lending business, as corporates and small- and medium-sized businesses may reduce borrowing. ICICI is a conservative lender with high underwriting standards, which results in a very high-quality balance sheet but also can affect growth in the medium term. We decided to exit the position to reallocate to more attractive opportunities.”
ICICI Bank Ltd.
Read the letters behind these ICICI Bank Ltd. positions
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