ICICI Bank reports robust Q3 performance, supported by stable asset quality; Brokerages maintain ‘Buy’ rating, expressing confidence in the stock.
Shares of ICICI Bank demonstrate ongoing upward momentum on January 27 because of buoyant Q3 financial outcomes. A privado or private lender demonstrated robust outcomes within a faded sector as brokerage institutions report. Asset quality stability emerges as the major positive outcome of ICICI Bank’s Q3 execution despite market difficulties from increasing credit expenses.
Motilal Oswal on ICICI Bank
India’s second-biggest private banking entity achieved outstanding performance during its recent reporting period according to the brokerage firm Motilal Oswal. The results reflected credit cost management alongside lowered provisions and slippages combined with steady asset quality performance. According to a brokerage assessment the bank demonstrates the truth in the popular truism ‘When the going gets tough, the tough get going.’ The brokerage has increased their target price to Rs 1,550 while leaving the ‘Buy’ rating unchanged.
Nuvama on ICICI Bank
Nuvama retained its positive ‘Buy’ rating because the bank maintains strong retail presence and steady asset quality. The brokerage maintains an unchanged target price of Rs 1,470 per share. The CFO stated prominent business segments remain stress-free while gross credit costs might expand by 50 basis points but will prove insignificant. A management analysis of the corporate portfolio indicated no additional credit costs and continuous enhancements in portfolio quality for non-fund based debt and restructured assets and BB ratings or below within this segment which generated favorable views.
JM Financial on ICICI Bank
A recent JM Financial research report shows the bank successfully tackles rising challenges through reduced credit costs reaching 0.38% this quarter from 0.39% previously. Sector delinquency in rolling out unsecured portfolios became the main reason for bank headwinds during this period. The analysts at JM Financial recommended ICICI Bank as their top choice even though market conditions slowed down. The brokerage firm upholds its ‘Buy’ rating for the stock and sets a target price at Rs 1,420. JM Financial conducted its most recent rating change together with target price update for the stock during October 2024.
ICICI Bank Q3 results
During Q3 of FY25 the bank registered a 15% YoY increase in net profits to reach Rs 11,792 crore when compared to Rs 10,272 crore in Q3 of the previous fiscal year. The profits from net interest operations reached Rs20,370.6 crore demonstrating a 9.1% YoY increase versus Rs 18,678 crore the previous year. The bank’s Net Interest Margin (NIM) decreased to 4.25% during the year compared to 4.43% in the previous period. During its previous three-month period the bank recorded a net profit ratio of 4.27%.
ICIC Bank’s performance in Q2
ICICI Bank’s Q2 standalone financial figures revealed a 14.47% YoY increase to Rs 11,745.88 crore profit compared to Rs 10,261 crore for the same period in the previous year. During Q2 of FY25 the bank achieved a 9.5 percent YoY increase in net interest income which reached Rs 20,048 crore.
Also Read: Yes Bank Share Price Today Live Updates: Positive Trading Momentum Observed
+ There are no comments
Add yours