Anand Rathi Recommends 'BUY' for ICICI Bank; Sets Target at Rs 1713

• Anand Rathi maintains a 'BUY' rating for ICICI Bank with a target price of Rs 1713.
• Core PPoP grew 6.9% YoY, and credit growth accelerated to 11.5% YoY, with stable NIMs.
• Asset quality remained stable despite a seasonally weak quarter, and management expects further credit growth acceleration.
• The re-appointment of Mr. Bakhshi as CEO until October 2028 is seen as a positive development.
• ICICI Bank is preferred over HDFC Bank due to its better position to manage growth-margin trade-off, maintaining RoE above 15%.

Why It Matters: Anand Rathi recommends buying ICICI Bank, citing strong performance, stable asset quality, and strategic leadership.