Motilal Oswal: ICICI Bank Reports Steady Operating Performance In Q1; Provisioning Prudent
People exit the ICICI Bank Towers, in Mumbai, India Photographer Prashanth VishwanathanBloomberg News

Motilal Oswal: ICICI Bank Reports Steady Operating Performance In Q1; Provisioning Prudent

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

ICICI Bank Ltd.’s Q1 FY21 results were in line. The bank prudently used higher treasury/stake sale gains for higher provisions. This led the Covid-19 related provision buffer to 1.3% of loans. Also, provision coverage strengthened further to approximately 79%.

Core operating performance (excluding treasury/stake sale gains) was strong, led by robust net interest income growth and controlled operating expenses. Moratorium book declined to 17.5% of loans while another approximately 2% of loans (outside moratorium) were overdue on their June 2020 equated monthly installment (EMI).

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Motilal Oswal - ICICI Bank Q1FY21 Result Review.pdf

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