You are using an older browser version. Please use a supported version for the best MSN experience.

Ideas For Profit | ICICI Bank

Q1 FY22 earnings reaffirm that ICICI bank has transitioned well from a stressed bank to a growing lender. However, the valuation is not yet fully capturing the significant improvement in business fundamentals and growth story.Q1FY22 Highlights:· Net profit surged to Rs 4,616 crore, a growth of 78% YoY· NIMs improved on domestic book to 3.9%· Wrote back Rs 1,050 crore of Covid-19 related provisions created in earlier periods· High provision coverage ratio of 78% as of end June is comforting· Stock is trading at around 1.9 times FY23 estimated core book #ICICIBankQ1 #IdeasForProfit #RecommendationsFollow us:Website: https://www.moneycontrol.com/Facebook: https://www.facebook.com/moneycontrol/Twitter: http://www.twitter.com/moneycontrolcomInstagram: https://www.instagram.com/moneycontrolcom/

UP NEXT

image beaconimage beaconimage beacon