ICICIBC reported 2QFY18 PAT of INR20.6b (19% miss), affected by elevated provisions; however, stable margins, in-line slippages and an improvement in the coverage ratio provided comfort. NII grew 9% YoY to INR57.09b (1.5% beat), while core fee growth remained soft at 9% YoY. NIM held stable at 3.27%, and management maintained its >3% NIM guidance for FY18. Business growth picked up, with the advances portfolio growing 4% QoQ (flattish in 1QFY18), led by continued traction in retail loans (+19% YoY; ~54% of total loans), and the corporate portfolio growing 5.6% QoQ. Deposit growth,...