Another remarkable quarter; remains preferred pick

23 Jan 2024
5 Min read 
  • ICICI Bank reports strong 3QFY24 performance with 24% YoY net earnings growth.
  •  NIMs contract 10bp QoQ to 4.43%.
  •  Credit growth healthy at 19% YoY/4% QoQ, led by Retail, SME, and BB segments.
  •  Slippages slightly elevated, but GNPA ratio decreases 18bp QoQ.
  •  Bank maintains total contingency buffer of INR131b (1.1% of loans).
  •  EPS estimates raised for FY24/FY25, expecting RoA/RoE of 2.3%/18.3% in FY25.
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