ICICI Bank Q1: KR Choksey sees PAT to grow 20% at Rs 2180cr
KR Choksey expects ICICI Bank to report a 5 percent degrowth quarter-on-quarter (growth of 20 percent year-on-year) in net profit at Rs 2180 crore.
July 30, 2013 / 18:05 IST
KR Choksey has come out with its first quarter (April-June) earnings estimates for the banking sector. The brokerage house expects ICICI Bank to report a 5 percent degrowth quarter-on-quarter (growth of 20 percent year-on-year) in net profit at Rs 2,180 crore.
Net interest income of the bank is expected to decrease by 1 percent Q-o-Q (up 18 percent Y-o-Y) to Rs 3,780 crore, according to KR Choksey.KR Choksey on ICICI BankStrong disbursement in mortgage and other retail loans are driving retail loan book. Domestic corporate will continue to grow slower than retail book. Rupee depreciation will boost international loan book. Net interest margin is likely to decline due to full impact of higher growth in priority sector book in Q4FY13. Sequentially, fee income remain weak mainly due to muted international fee income and corporate fee income.Broadly asset quality remain stable in tough macro environment. Moreover, bank would see loan restructuring in the range of Rs 450 crore, lower than Q4FY13 (Rs 788 crore). Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
