ICICI Bank Q1 Review - Slippages Rise; Structural Strengthening Of NIM A Positive: 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 strong operating metrics with marginally higher net interest margin q-o-q at 3.9% despite elevated interest reversals, healthy core pre provision operational profit/assets at 2.8%, and better than expected advances growth at 17% y-o-y, with domestic book growing by 20% y-o-y.NIM benefitted from a continued decline in cost of fund, sequentially higher credit-deposit ratio, and further reduction in non-India linked overseas book. With continued strengthening of NIM over the last two quarters despite high interest reversals, we factor in seven-eight basis points higher NIM for FY22/23E. ICICI Bank will also be a key beneficiary of reversal in interest rate cycle with a large marginal cost of funds based lending rate/repo linked book (at 64%).. Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Bank Q1 Review - Slippages Rise; Structural Strengthening Of NIM A Positive: Dolat Capital

ICICI Bank Q1 Review - Slippages Rise; Structural Strengthening Of NIM A Positive: Dolat Capital

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