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.
Motilal Oswal Report
ICICI Bank Ltd. reported an all-round improvement in operating performance, with core pre-provision operating profit up 21% YoY (excluding dividends), margin improving by 4 basis points QoQ to 4%, and robust asset quality driving a sharp decline in credit cost, even as the bank increased its contingent provision buffer by Rs 10.25 billion.
ICICI Bank reported a return on asset/return on equity of 2.1%/17% in Q4 FY22.
Business growth continues to gain traction, with a jump of 17% YoY and 6% QoQ, led by retail, small and medium enterprise, and business banking.
Return on equity crossed the 15% mark in Q3 and Q4 FY22 saw a further rise (~170 basis points). While the stock has done well on a relative basis, current valuations leave ample scope for a re-rating.
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