ICICI BANK Q3 RESULTS: STRONG PERFORMANCE in 2024

ICICI BANK Q3 RESULTS: STRONG PERFORMANCE

🏦 ICICI Bank, the second-largest private lender in India, reported a robust performance in the third quarter of the current fiscal year.

FINANCIAL HIGHLIGHTS:

• Net profit increased by 24% to Rs 10,272 crore.
• Net Interest Income (NII) grew by 13.4% to Rs 18,678 crore.
• Total advances showed a strong YoY growth of 18.5% to Rs 11.53 trillion.
• Net Interest Income (NII) grew by 13.4% to Rs 18,678 crore.
•  Total advances showed a strong YoY growth of 18.5% to Rs 11.53 trillion.

DEPOSIT AND LOAN GROWTH:

• Total period-end deposits rose by 18.7% YoY to Rs 13.32 trillion.
• Term deposits increased by 31.2% YoY to Rs 8 trillion.
• Retail loan portfolio surged by 21.4% YoY, comprising 54.3% of the total loan portfolio.

ASSET QUALITY:

1. Gross NPA ratio improved to 2.30% as of December 31, 2023, from 2.48% at the end of September.
2. Net NPA ratio stood at 0.44%.

PROVISIONS AND EXPERT OPINIONS:

• Provisions (excluding provision for tax) were Rs 1,050 crore in Q3-2024, a decline from Rs 2,257 crore in the same quarter the previous fiscal.

Analysts' outlook:

•  ICICI Bank: Buy, Target raised to 1300 from 1225
•  JP Morgan: Overweight, Target raised to 1180 from 1150
• Goldman Sachs: Buy, Target raised to 1179 from 1144
• Nomura: Buy, Target raised to 1225 from 1175
• HSBC: Buy, Target raised to 1270 from 1260
• JP Morgan: Overweight, Target raised to 1180 from 1150
• Goldman Sachs: Buy, Target raised to 1179 from 1144
• Nomura: Buy, Target raised to 1225 from 1175
• HSBC: Buy, Target raised to 1270 from 1260

NIM AND OUTLOOK:

1. Net Interest Margin (NIM) contracted to 4.43% in Q3-2024.
2.  The bank remains optimistic about sustaining its balanced deposit and loan growth.

The overall results indicate ICICI Bank's resilience and ability to navigate market challenges while maintaining a healthy financial position. 💼📊

🔴💯ध्यान दें: ➡️ये सिर्फ कुछ उदाहरण हैं, और बाजार में कई और बेहतरीन ,Stocks,ईटीएफ उपलब्ध हैं. निवेश करने से पहले खुद का रिसर्च करना और फाइनेंशियल एडवाइजर से सलाह लेना जरूरी है.

🔴Disclaimer : This is not an investment advice and this is not an investment recommendation.