INSUBCONTINENT EXCLUSIVE:
Robust fee growth (up 17 per cent YoY), curtailed costs and lower provisions led to a strong operating performance despite the treasury
per cent to hit a high of Rs 337.70 on BSE.
The bank posted 55.84 per cent year-on-year fall in standalone profit at Rs 908.88 crore for the
quarter ended September 30
It had posted a net profit of Rs 2,058.19 crore in the corresponding quarter last year
Analysts in an ET Now poll had estimated the profit figure at Rs 815 crore
Asset quality of the lender improved during the quarter under review
Percentage of gross non-performing assets (NPA) eased to 8.54 per cent in Q2FY19 over 8.81 per cent in Q1FY19
Percentage of net NPA also improved to 3.65 per cent from 4.19 per cent during the period.
Net interest income of ICICI Bank jumped 12.41
per cent YoY to Rs 6,417.58 crore during the quarter under review
The net interest margin stood at 3.33 per cent in Q2FY19.
Nirmal Bang Institutional Equities has revised its earnings estimates for
franchise of the bank is available at 1.1 times P/Book FY20E, with a RoA of 1.4 per cent for FY20E
equity investments," said Emkay Global in a note
"We have based the general insurance and securities business valuation on current market cap while the life insurance and AMC business
