Moneycontrol Be a Pro
Get App
Last Updated : Jul 31, 2013 12:19 PM IST | Source: Moneycontrol.com

Here's what to expect from ICICI Bank's Q1 results

India's largest ICICI Bank's first quarter (April-June, FY14) net profit is likely to rise 24 percent year-on-year to Rs 2,252 crore. Net interest income or the difference between interest earned and paid out, may increase 21 percent y-o-y to Rs 3,850 crore.


Moneycontrol Bureau


India's largest ICICI Bank's first quarter (April-June, FY14) net profit is likely to rise 24 percent year-on-year to Rs 2,252 crore. Net interest income or the difference between interest earned and paid out, may increase 21 percent y-o-y to Rs 3,850 crore.


"There would not be any surprise element in this quarter. ICICI Bank is growing steadily. Its overseas expansions are expected to generate revenues gradually. However, it may see marginal credit quality deterioration in line with other private sector banks," a banking analyst from a large domestic brokerage firm told moneycontrol.com on conditions of anonymity.


Must read: RBI Credit Policy: Leaves key rates unchanged, reflects no hawkish stance


Earlier, this news portal reported that the private sector lender had stepped up plans to expand its presence in three new geographies including Australia, Mauritius and South Africa (SA) after a hiatus of three years.


The bank is likely to expand its loans and deposits in the range of 15-16 percent. Analysts expect a robust jump of 20 percent y-o-y in its International loan book led by the rupee depreciation.


During the January-March quarter, the bank had expanded loans by 14 percent year-on-year to Rs 2.90 lakh crore. The share of retail was at 37 percent while corporate loans had contributed 32.50% of the total credit book.


Other income may contribute significantly to the profit margin. Trading profits are estimated to be Rs 200 crore compared with a mark-to-market loss of Rs 21 a year ago.


ICICI Bank had reported 21 percent year-on-year rise in its fourth quarter (January-March) net profit at about Rs 2,300 crore on standalone basis, driven by robust growth in NII. During the same period, NII had grown forecast beating 22 percent to Rs 3,800 crore.

saikat.das@network18online.com



LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Jul 30, 2013 09:46 pm
Loading...
Follow us on
Available On