ICICI Bank Ltd. share price target

ICICI Bank's (ICICIBC) Q1FY21 PAT at Rs 26bn was supported by 20% YoY growth in NII and strong core operating profits (+15% YoY).

Moratorium levels at 17.5% are based on opt-in from the month of June. The Bank has made additional Covid related provisions of Rs55.5 bn in 1QFY21, with standard provision buffers (ex- general provisions) at 1.6% of loans and 9% of moratorium book as of June-20. ICICI Bank's prudent provisioning, healthy liability profile, strong digital capabilities and market leading subsidiaries remain its key strength. We nonetheless remain watchful of tail risks post moratorium, particularly from the bank's corporate portfolio....

Even as year-end CASA ratio declined in FY20 (~450 bps to 45%), decline in avg CASA balances was lower (~200 bps to 43%). Lower share of high-cost borrowings also aided CoF, which were amongst the lowest in industry. CASA/total funds (deposits & borrowings) at 38% remains amongst the best in industry. Improving CoF, change in loan mix in favour of retail, and...

ICICI Bank posted good numbers for Q1FY2021, where operating performance was better than expectations, and large provisions (partly due to COVID-19) resulted in lower-than-expected PAT. Asset quality improved on a sequential basis, with moratorium book at 17.5% (from 30% in Q4FY2020). Net interest margin (NIM) was at 3.69% (down 18 bps q-o-q) mainly due to high deposit growth as compared to advances growth. Net interest income (NII) at Rs. 9,280 crore was up 19.9% y-o-y, and came in line with expectations. While other income was boosted by stake sale gains (Rs. 3,036 crore) and higher treasury income,...

ICICI Bank reported a mixed Q4FY20 with negatives marginally outweighing the positives.

Advances grew 10.0% YoY to Rs. 645,290cr, on the back of Domestic loan book (+12.9% YoY) for Q4FY20. Net interest margin expanded 15bps to 3.87%, and Net Interest Income rose 17.1% YoY for the quarter. Reported PAT was up 26% YoY. Asset quality improved slightly with GNPA/NNPA ratio at 5.5%/1.4% in Q4FY20 (vs. 6.0%/1.5% in Q3FY20). The bank's healthy capital position, along with strong network support by digital transformation should drive growth. We reiterate our BUY...

ICICI Bank is a leading private sector bank in India .Bank currently has a network of more than 5,000 branches and more than 15,500 ATMs across India. ICICI Bank offers a wide range of banking products and financial services to corporate and...

ICICIBC reported stable fourth quarter performance led by NII growth, up 17%YoY on higher NIM (3.87%, up 10bps QoQ) and 13%YoY domestic loan growth. Fee income moderated, up 13%YoY on expected lines. However, slippages were higher than expected at Rs 53bn due to overseas NPAs of 18bn.

of Rs 2725 crore in Q4FY2020 against standard assets to further strengthen the balance sheet. Excluding Covid-19 related provisions, the net profit would have been Rs 3260 crore. Bank has improved margins, core fee income, cost-to-income ratio, while also exhibited improvement in cost to income ratio in Q4FY2020. Bank has maintained steady business...