ICICI Bank Q1 net seen down 4.41% at Rs 740.88 cr

ICICI Bank is to declare its Q1FY09 numbers. According to CNBC-TV18 estimates, its net profit is expected to go down by 4.41% to Rs 740.88 crore for the quarter ended June 2008 as against Rs 775.1 crore in same period of last year.

Net interest income is seen going up by 25.33% to Rs 2084.85 crore from Rs 1663.4 crore.

Q1FY09 Expectations

Expect modest credit growth of 15-16%

Growth is helped in part by ability to leverage their expanding distribution

Stable QoQ margins during 1QFY09

Expect MTM losses of Rs 700 cr - booked in other income