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ICICI Bank share price slips 2% post Q1 numbers; brokerages maintain buy call

Domestic loan book grew by 10 percent in June quarter with retail loan portfolio growth at 11 percent.

July 27, 2020 / 01:42 PM IST

ICICI Bank share price shed 2 percent in early trade on July 27 after the company reported its June quarter numbers.

The bank on July 25 reported Q1 FY21 profit at Rs 2,599.1 crore, a growth of 36.2 percent year-on-year backed by some stake sale in general and life insurance subsidiaries. But the additional COVID-19 related provisions of Rs 5,550 crore limited the profit growth.

Net interest income during the quarter increased by 20 percent to Rs 9,280 crore compared to the corresponding period of the previous fiscal, with loan growth of 7 percent and strong deposits growth of 21 percent YoY.

Domestic loan book grew by 10 percent in June quarter with retail loan portfolio growth at 11 percent, while growth in the performing domestic corporate portfolio was about 8 percent YoY.