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ICICI Bank Q4 Results Review: Another Strong Quarter; Dolat Capital Maintains 'Buy', Hikes Target Price

Dolat Capital expects ICICI Bank to continue attracting a valuation premium versus peers led by its superior credit costs, healthy growth and higher profitability ratios (RoA/RoE).

<div class="paragraphs"><p>ICICI Bank  reported a robust quarter with low credit costs (sub 30 bps), contained opex, and steady net interest margin aiding an 18% YoY PAT growth and RoA of 2.5%.&nbsp;(Photo Source: Vijay Sartape/ NDTV Profit)</p></div>
ICICI Bank reported a robust quarter with low credit costs (sub 30 bps), contained opex, and steady net interest margin aiding an 18% YoY PAT growth and RoA of 2.5%. (Photo Source: Vijay Sartape/ NDTV Profit)
ICICI Bank is best placed across key metrics including CoF, advances growth, profitability ratios (RoA/RoE), capital comfort, and provision buffers amongst large private banks. It has the highest RoE amongst large private banks and no immediate capital requirement. Asset Quality metrics are superior with NNPA at 0.4%, 77% PCR, and industry best contingent provision buffers at ~90 bps of advances.
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