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.
Dolat Capital Report
ICICI Bank Ltd. reported a strong quarter with continued traction in net interest margin (up 10 basis points QoQ to 4%), improving core pre-provision operating profit/assets at over 3% (best in last several years), improving asset quality outlook, and healthy advances growth at 17% YoY/3.5% QoQ (domestic book at 20% YoY).
ICICI Bank's NIM benefitted from continued decline in cost of funds and lower net slippages during the quarter.
We expect increased share of higher yielding loans, and high share of repo/Marginal Cost of Funds-linked loans to support NIM at ~4% for FY23-24E.
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