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Why should investors consider ICICI Bank despite relatively higher moratorium book?

ICICI Bank stock is seen get a boost from its subsidiaries that are doing reasonably well

July 27, 2020 / 01:42 PM IST
Why should investors consider ICICI Bank despite relatively higher moratorium book?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Buoyed by a one-off treasury income from the sale of stake in its insurance subsidiaries, ICICI Bank’s (CMP: Rs 382, Mcap: Rs 247,292 crore) net profit increased 36 per cent year-on-year (YoY) to Rs 2,599 crore in the first quarter of FY21. Excluding the treasury income and making adjustment for income-tax refunds, ICICI Bank’s core pre-provision operating profit increased 18 per cent YoY, which is quite impressive. The strong operating profit was aided by a robust growth in net interest...

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