Dolat Capital's research report on ICICI Bank
ICICI reported a quarter better than expectation with 1) an advance growth of 12% YoY, 2) NIM expansion by 14bps QoQ to 3.3%, 3) growth in core profits by 10% YoY, 4) lower credit cost coupled with compression in GNPA by 27 bps to 8.5% coupled with improving coverage, 5) favorable credit risk profile, with A- and above book increasing to 65.5% vs 63.3%, fall in BB and below by 12% QoQ and in drill down list as well. With robust momentum in retail advance growth, increasing in pricing power and largely at the end of the provision cycle of its legacy bad book, it is well placed than its corporate peers.
Outlook
However, a substantial improvement in profitability is expected to be driven by material recoveries.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
