ICICI Bank's NII likely to be boosted on credit growth

ICICI Bank will announce its results on Tuesday. The bank's net interest income is likely to be boosted by better than expected credit growth. CNBC-TV18's banking analyst, Himanshu Khandelwal gives a preview on ICICI Bank numbers.

According to CNBC-TV18's earnings estimates, ICICI Bank's Q2FY07 net profit is seen up 20% at Rs 695.5 crore versus Rs 580.1 crore. Its NII is also estimated to be up 59% at Rs 1,516.3 crore versus Rs 953.5 crore.

ICICI Bank's H1FY07 net profit is also seen up 18.5% at Rs 1,315.5 crore versus Rs 1,110 crore. Its NII is also estimated to go up 65.7% at Rs 2,991.5 crore versus Rs 1,804.7 crore.

The bank's NII is likely to be boosted on credit growth, says Khandelwal. Other income will jump due to the sale of IDFC shares, he adds. He also says loan growth of over 40% is expected from the bank. One will also see a rise in provisions due to high retail growth. The bank's fee income is also expected to grow by 35%, he adds.

ICICI Bank is targeting to improve its balancesheet and looking at further lending, he says.