Quarterly Results: ICICI Bank Ltd

Technical View: 

ICICI Bank Ltd., ended at Rs. 278.75, up by 9.05 points or 3.36% from its earlier closing of Rs. 269.7 on the BSE.

The scrip touched a high and low of Rs. 280.95 and Rs. 272.55 respectively, after opening at 276. In totality 19350032(NSE+BSE) shares were traded on the counter; and the stock is  trading below its 50 DMA. 

Standalone Results Q2FY17: (Rs. in crore)


***NPA change in bps

ICICI Bank’s Q2FY16 standalone numbers have beaten the street estimates. NII for the period is marginally lesser (0.4%) than the street estimate of Rs 5.274 cr. However, net profit for the period is 25.2% higher than the estimated figure of Rs 2,477 cr.

The quarter's NII has come in at Rs 5,253 cr remaining largely stagnant yoy. This was triggered by a 4% yoy increase in interest earned offset by a 7% spurt in interest expended.

ICICI Bank's Gross NPA stands at 6.82% as against 3.77% during the corresponding period of the previous year. Thereby, asset quality worsened 300 bps yoy. Gross NPA stands at Rs 32,179 cr, climbing 103% yoy. The bank's capital adequacy ratio (Basel III) for the period is 16.14%.

Provisions for the period have increased by 651.8% yoy to Rs 7,083 cr.

The bank has reported a 2.4% yoy surge in net profit to Rs 3,102 cr. This was anchored by a 203% yoy spurt in other income owing to stake sale through IPO of ICICI Prudential Life Insurance Company Ltd.

ICICI bank has shown a 21% yoy uprise in its retail portfolio. As also current & savings account (CASA) deposits have climbed 18% yoy.