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 an impressive set of numbers with net interest income and core pre-provision operating profit growing by 17% and 20% respectively.
Pro forma gross non-performing assets improved by 46 basis points QoQ to 4.96%, led by lower than expected slippages at 3.2% and higher upgrades during Q4.
Slippages were contained at 2.5% for FY21 against 2.45% in FY20.
Sequential improvement in net interest margin by over 15 bps to 3.84% despite taking the impact of compound interest waiver was encouraging.
Net interest margin benefitted from a continued decline in cost of funds and further reduction in overseas book.
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