InvestorQ : How do you see the ICICI Bank stock after the record results announced in the quarter?
indhumathi Sayani made post

How do you see the ICICI Bank stock after the record results announced in the quarter?

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2 months ago
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ICICI Bank reported stellar top line and record bottom line numbers in the September quarter. For Q2, ICICI Bank reported revenues at Rs.39,485 crore. Revenues from retail banking and treasury were higher but revenues from corporate banking was flat.

The life insurance revenues grew 10% yoy. Critically, the NII grew 25% to Rs.11,690 crore while the all-important net interest margins or NIM were s, while the net interest margins or NIM came in at a healthy clip of 4% compared to 3.57% last year.

What is important is that the lower cost CASA deposits were up 28% yoy and these CASA deposits now account for a healthy 44% of the total deposit base. Provisions in the quarter were lower by 9% at Rs.2,714 crore, which helped boost the profits in the quarter.

Profit after tax was up 24.77% at Rs.6,092 crore. In terms of asset quality, the gross NPAs fell from 5.15% to 4.82% yoy while net NPAs fell from 1.16% to 0.99%. with an expanded loan portfolio and sharply improved profits and margins, the bank surely makes a good investment bet. However, be cautious of the smart rally it has already been through.

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