BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
ICICI Bank Ltd. reported yet another strong performance, driven by growth in non-interest income and lower provisions resulting in an all-around beat.
Net interest income growth was robust at 21/5% YoY/QoQ, supported by a healthy loan book growth of 21/4% YoY/QoQ and stable net interest margins of 4% (versus 4%/3.9% YoY/QoQ).
Asset quality improved with gross/net non-performing assets at 3.4/0.7% (down19/6 bps QoQ).
Though slippages increased QoQ and stood at Rs 58.3 billion with higher slippages in the Kissan Credit Card portfolio (seasonal phenomena), higher recoveries and upgrades of Rs 54.4 billion supported asset quality improvement.
The restructured book declined to Rs 73.8 billion (0.8% versus 1% QoQ) against which the bank holds a provision cover of 31% (Rs 22.9 billion).
ICICI Bank reiterated its focus on micro-market segments to build a granular and scalable loan book, in a risk-calibrated manner by leveraging its digital products offerings.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
POPULAR