We retain BUY on ICICI Bank with SOTP based TP unchanged at Rs340. Q2'18 results saw yet another quarter of strong earnings (NII up 8.7% YoY / NIM +14bps YoY to 3.27%), accelerated loan growth (domestic loans up 13.2% YoY) and sequential decline in slippages (3.9% of loans). Drill-down list has more than halved over FY16-Q2FY18 (4.5% of loans). Commentary on overall NPA accretion remains soothing; resolutions in certain large NPA cases could add positively to overall NPA trend. Capital position remains strong while subsidiaries stay profitable. Valuations continue to remain undemanding. Prefer ICICI Bank over...