ICICI Bank - Strong Business Performance Continues In Q4: Axis Securities
Customers wearing protective masks wait in line at an ICICI Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Bank - Strong Business Performance Continues In Q4: Axis Securities

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.

Axis Securities Report

In Q4 FY21, ICICI Bank Ltd. maintained its business momentum with strong domestic loan growth of 18% YoY led by 20% retail loan growth.

This coupled with improved net interest margin of 3.84% led to net interest income growth of 17%/5% YoY/QoQ.

The liability franchise was stable with a deposit growth of 21% YoY.

Slippages have come down QoQ to Rs 55.2 billion (0.8% of loans).

However, higher than expected provisioning and muted non-interest income (on treasury loss) led to a lower earning growth of 11% QoQ to Rs 44 billion (though up 260.5% YoY).

Credit costs were maintained at 1.57% QoQ.

Click on the attachment to read the full report:

Axis Securities ICICI Bank Q4FY21 Result Update.pdf

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