ICICI Bank Limited ADR (IBN)
I purchased this stock years ago when investing in India was just starting, and I have made out like a bandit.
Why? ICICI bank provides loans to foreign investors. India�s growth has been fluctuating recently, but that doesn’t mean you can’t invest now. ICICI Bank is the 2nd largest bank in India. Their balance sheet shows a net income of $20 billion in 2006, up from $8.5 billion in 2005. That type of growth is unheard of. With a booming Indian middle class, Indian residents will continue to invest and save. Growth will not climax anytime soon.
ICICI is also India’s largest provider of private insurance. They are a major online broker, and in conjunction with Prudential, are the number two institutional mutual fund provider in India. ICICI also invests internationally by purchasing banks in Russia.
ICCI is a strong growth stock in an emerging market. Take a look at ICICI’s 5 year chart if you want visual evidence. This stock should be in everyone’s portfolio.
This post was contributed by Ryan Donnell.
While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.