BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
ICICI Bank Ltd.'s Q2 FY22 earnings performance was strong, led by robust loan growth, improved net interest margin, and moderating credit costs, outperforming peers on most fronts.
Loan book grew 17.2% YoY with 19% YoY in retail book. Current accounts and savings account stood at ~44%.
Net interest margin stood at 4%, up 43 basis points/11 basis points YoY/QoQ. Core pre-provision operating profit was up 23.3%/10.6 YoY/QoQ to Rs 95.2 billion.
ICICI Bank's asset quality improved with gross non performing asset/net non performing asset at 4.8%/1% while the restructuring pool was at 1.3% of loans.
Provision coverage ratio further improved to ~80%. profit after tax was up 29.6%/19.4% YoY/QoQ to Rs 55.1 billion.
Click on the attachment to read the full report:
DISCLAIMER
This 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 author entity 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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
