ICICI Bank (ICICI) is engaged in providing a range of banking and financial services and operates in segments like retail and wholesale banking, treasury, and other banking divisions.
During the September quarter, net profit grew 20% year-over-year, while net interest income surged by 9%, attributable to a 40% year-over-year decline in provisioning due to lower incremental slippages.
During the present quarter, loan book expanded 5% sequentially with growth coming from domestic corporate and agricultural loans. The management expects loan book to grow at 20% for the full year.
Margins have improved 10 bps to 2.6% sequentially due to enhancement in low-cost deposits. The bank is expected to maintain margins of 2.5%-2.6% for the full year. Net non-performing loans narrowed 15 bps to 1.6% and provision coverage improved to 69% for the quarter. ICICI is trading at 2.2 times its 2011 estimated book.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV