Buy ICICI Bank; target of Rs 314: KRChoksey

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26 Aug, 2025 12:21

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KRChoksey's research report on ICICI BankQ3FY15 earnings for ICICI Bank came as a huge disappointment with bank reporting highest NPAs in past five years (jumped 33% q/q, 62% y/y), three-fold spike in provisioning and tepid profitability. Other income traction boosted by Pru Life stake sale (one-off gains) and contained operating costs stood as savings grace. Steel sector issues and impact of RBI’s fresh guidelines signal more pain for ICICI Bank in the forthcoming quarters. Moreover, lack of clarity on stressed assets ensure weakness in ICICI Bank stock ahead.It seems a bumpy ride for ICICI Bank ahead especially in the light of the new RBI directive and the bank’s meaningful exposure to the leveraged corporate and troubled sectors of the economy. While no complaints on loan book growth that was primarily driven by retail loan traction so also robust non-interest income that proved as the sole savings grace for the bank during the quarter, the slippages and credit costs are expected to stand higher for the forthcoming quarter. That calls for imminent earnings pressure ahead for ICICI Bank.For all recommendations, 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.