ICICI Bank - Stellar Q4 Numbers; Provision Buffer To Help Tide Over FY22: Centrum Broking
A cyclist rides past customers waiting in line at an ICICI Bank Ltd. branch on a near-empty street in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

ICICI Bank - Stellar Q4 Numbers; Provision Buffer To Help Tide Over FY22: Centrum Broking

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.

Centrum Broking Report

ICICI Bank Ltd.’s FY21 earnings beat estimates on all parameters.

Positive surprise on pre-provision operating profit driven by net interest income, fee income and lower provisions resulted in a profit after tax beat.

Loan growth was strong at 14% year-on-year as retail grew robustly at 20% YoY due to market share gains driven by seamless credit delivery led by digitisation.

Asset quality for FY21 was better due to lower slippages (80% from retail).

Stress formation in FY22 versus FY21 could be lesser as the bank has strengthened its underwriting and collection mechanism over the last one year.

Click on the attachment to read the full report:

Centrum Broking ICICI Bank - Q4FY21 Result Update .pdf

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