Highest-rated banking stock ICICI's performance hasn't been stellar

ICICI Bank is the world’s highest-rated banking stock, but its performance hasn’t exactly been stellar.

The $32-billion lender has 56 ‘buy’ recommendations, and its consensus rating of 4.95 on a scale of 5 is the highest among the 50 largest banks globally, data compiled by Bloomberg show. Meanwhile its share price is down 32 per cent this year, ranking it in the bottom four of that same group.

Lockdowns and low interest rates have taken a toll on global financial stocks, and India’s banks are still reeling from a crisis among the nation’s smaller shadow lenders. Even so, attractive valuations and signs