India's ICICI Bank beats Q2 profit view on healthy loan demand, margins shrink
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 26 2024
0mins
Should l Buy ?
Source: Reuters
ICICI Bank's Financial Performance: ICICI Bank reported a 14.5% increase in standalone net profit for the July-September quarter, reaching a record 117.46 billion rupees, driven by strong loan growth and core lending income despite a decline in lending margins.
Asset Quality and Provisions: The bank's asset quality improved with a gross non-performing assets (NPA) ratio of 4.27%, while provisions for potential bad loans rose significantly to 12.33 billion rupees, reflecting increased caution amid stress in unsecured and microfinance loans.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
