Dolat Capital: ICICI Bank’s Prudent Provisioning Provides Significant Comfort In Q1

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.ICICI Bank Ltd. reported a better-than-expected operating performance with net interest income and pre-provision operating profit growth of 20% and 71% respectively. PPoP grew by 24% YoY excluding one-time gain from stake sale in insurance subsidiaries (Rs 30 billion).Moratorium levels at 17.5% are based on opt-in from the month of June. The Bank has made additional Covid-19 related provisions of Rs 55.5 billion in Q1 FY21, with standard provision buffers (ex- general provisions) at 1.6% of loans and 9% of moratorium book as of June-20.ICICI Bank’s prudent provisioning, healthy liability profile, strong digital capabilities and market leading subsidiaries remain its key strength. We nonetheless remain watchful of tail risks post moratorium, particularly from the bank’s corporate portfolio..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Dolat Capital: ICICI Bank’s Prudent Provisioning Provides Significant Comfort In Q1

Dolat Capital: ICICI Bank’s Prudent Provisioning Provides Significant Comfort In Q1

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