- Net Income Exceeds Estimates: ICICI Bank reported a net income of 110.59 billion rupees, surpassing the estimate of 105.17 billion rupees.
- Improved Non-Performing Assets: Gross non-performing assets stood at 2.15%, better than the estimated 2.21%.
- Provisions: The bank set aside 13.32 billion rupees for provisions.
- Stable Net Interest Margin: The net interest margin was reported at 4.36%, matching the estimate.
- Net Interest Income: The net interest income came in slightly lower at 195.53 billion rupees, compared to the estimate of 198.1 billion rupees.
- Loan Portfolio: Total loans were valued at 12.23 trillion rupees, short of the 12.4 trillion rupees estimate.
- Total Deposits: The bank’s total deposits were 14.26 trillion rupees, below the expected 14.69 trillion rupees.
- Gross NPA Additions: The bank added 59.16 billion rupees to Gross NPAs.
- High Coverage Ratio: The coverage ratio for non-performing loans was 79.7%.
- Analyst Ratings: Currently, there are 46 buy ratings, 4 hold ratings, and no sell ratings for the stock.
A look at ICICI Bank Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
ICICI Bank Ltd, a leading banking institution, is projected to have a positive long-term outlook based on Smartkarma’s Smart Scores. With strong ratings in Dividend and Growth at 4 out of 5, the bank demonstrates its commitment to rewarding shareholders and potential for expansion. Additionally, its Resilience score of 3 indicates a stable foundation amidst challenging market conditions, boosting investor confidence in its ability to weather uncertainties.
While ICICI Bank’s Value and Momentum scores stand at 3, signifying moderate performance in these areas, the overall outlook remains promising. The company’s diverse range of financial services, including savings accounts, loans, insurance, and online banking, underscores its comprehensive offerings catering to a global customer base. With a solid foundation and strong growth prospects, ICICI Bank Ltd is positioned to continue its positive trajectory in the banking sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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