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Ideas For Profit | ICICI Bank

Q1 FY22 earnings reaffirm that ICICI Bank has transitioned well from a stressed bank to a growing lender. However, the valuation is not yet fully capturing the significant improvement in business fundamentals and growth story. Q1FY22 Highlights: · Net profit surged to Rs 4,616 crore, a growth of 78% YoY · NIMs improved on domestic book to 3.9% · Wrote back Rs 1,050 crore of COVID-19 related provisions created in earlier periods · High provision coverage ratio of 78% as of end June is comforting · Stock is trading at around 1.9 times FY23 estimated core book

Moneycontrol News
July 26, 2021 / 15:51 IST
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TAGS: #additional provisions #asset quality #Companies #Corporate lending #earnings review #ICICI Bank #margin expansion #net-interest margin #Provisions #Recommendations #Result Analysis #Retail Lending #video
first published: Jul 26, 2021 03:51 pm

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