ICICI Bank Ltd share icici bank

ICICI Bank Ltd (updated - 02 Feb 2012)
In line with other private sector lenders, ICICI Bank too beat expectations as the country’s largest private bank improved its NIM and posted a 20% profit growth in standalone banking business in Q3. It expects to maintain its margin at the current level of 2.7% driven by growth from its retail book over Q4 as well in an environment where the number of big ticket deals is on the decline. Loan book grew 19%, slightly above the industry average, but below HDFC Bank’s loan book, which rose 22%. It plans to sustain this growth rate through March 2012. Its retail book grew 8% in Q3.

Its current account deposits grew 21% while savings accounts grew 5%, taking the CASA ratio to 43.6%, an improvement of 150 bps since September 2011. While this is lower than HDFC Bank’s CASA ratio of 47.7%, it is higher than Axis Bank’s 41.5%.

Compared to its peers, ICICI Bank has done well in growing its NII as well as current and savings deposits. It lags, however, in loan growth and NIM. It is well capitalised with a CAR of 18.88% and its NPAs as a percentage of total advances fell to 0.83%. Given its stable asset quality and growth prospects, it should catch up with Axis Bank’s valuations soon.
Source - Economic Times

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