ICICI Bank Posts Strong Q3; Well Positioned For Growth:  Dolat Capital
Customers standing in queue outside ICICI Bank Nerul branch. (Photo: BloombergQuint) 

ICICI Bank Posts Strong Q3; Well Positioned For Growth:  Dolat Capital

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 robust operating performance with net interest income and pre-provision operating profit growth of 16% and 17% respectively.

Profit after tax grew by 19% YoY with a return on asset of 1.7% (annualised) for the quarter.

Pro forma gross non-performing assets were contained at 5.42% as of December 2020 against 5.36% in the last quarter, with pro-forma provision coverage ratio at 77%, higher than peers.

Higher PCR was also driven by the bank’s revised provisioning policy wherein it has raised provisioning requirement for early bucket NPAs.

Click on the attachment to read the full report:

Dolat Capital ICICI Bank Q3FY21 Result Update.pdf

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