IDBI Capital: ICICI Bank Q2 Review - Collection Efficiency At 97% Of Pre-Covid-19 Levels
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IDBI Capital Report
ICICI Bank Ltd. reported strong profitability with profit before tax growth at 20% YoY; profit after tax growth (up 550% YoY) not comparable due to one off impact of deferred tax in corresponding quarter last year.
Asset quality on proforma basis improved with gross non-performing asset at 5.36% versus 5.46% QoQ; however slippage ratio was higher on sequential basis.
Management said collection efficiency is at 97% of pre-Covid-19 levels for retail portfolio.
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