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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:


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