The shares of ICICI Bank will remain in focus on Friday after market regulator Sebi issued a warning letter to the private lender as a custodian for allowing one Foreign Portfolio Investor to repatriate funds before the completion of the committed retention period under Voluntary Retention Route.In an exchange filing released after market hours on Thursday, ICICI Bank said there is no material impact on the company's financials, operations, or other activities, while announcing the Securities and Exchange Board of India’s warning over alleged violation of RBI and market regulator’s rules.The Reserve Bank of India introduced the Voluntary Retention Route scheme for investments by Foreign Portfolio Investors in debt markets. This allows FPIs to invest in debt markets with more flexible limits and framework, but only if they voluntarily commit to retain a required minimum percentage of their investments in India for a specified period of time.Motilal Oswal on ICICI Bank share priceICICI Bank is well-positioned to sustain sector leadership with a healthy growth outlook and robust asset quality, said Motilal Oswal Financial Services while naming the heavyweight private lender its top ‘Buy’ within the banking sector even after the stock tumbled 10% in six months.Despite the muted returns, Motilal Oswal maintained its bullish call for the shares of ICICI Bank. The domestic brokerage said that the private lender is well-positioned to sustain its growth momentum while maintaining profitability benchmarks. It expects the bank to deliver a 16% loan CAGR over FY26-FY28, led by strong growth in business banking and PL, while the corporate segment is also expected to witness healthy traction, supported by working capital demand.The brokerage acknowledged that ICICI Bank shares have delivered tepid performance over the past year, reflecting broader derating across large banking stocks amid persistent FII selling. However, with operating performance holding strong and sustained market share gains across key lending segments, Motilal expects a gradual rerating.It maintained its ‘Buy’ call on the stock, with a target price of Rs 1,750 apiece. This implies an upside potential of nearly 40% from the stock’s previous closing price of Rs 1,251.70 apiece on NSE.Also Read | ICICI Bank shares fall 10% in 6 months. Here’s why Motilal Oswal sees 41% upside potentialICICI Bank share priceICICI Bank shares have recorded marginal losses over one week and marginal gains over one month, but overall remain more than 6% down in 2026 so far. The shares of the heavyweight private lender declined 14% in one year.In the longer term, ICICI Bank shares delivered 32% returns over three years and nearly 95% returns over five years. The company currently has a market capitalisation of nearly Rs 8.98 lakh crore.Also Read | BIT sweeter? India weighs easing treaty rules with safeguards to attract foreign capital(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)