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ICICI Bank Q1 from NSE (YoY) Standalone NII up at Rs 1,714.25 Cr from Rs 1,475.28 Cr, net profit up at Rs 775.08 Cr from Rs 620.01 Cr

Monday, July 23, 2007

ICICI Bank has posted its Q1 from NSE (YoY) Standalone NII up at Rs 1,714.25 crore from Rs 1,475.28 crore. Its net profit has been up at Rs 775.08 crore from Rs 620.01 crore.

Net Interest Margins for Q1 is at 2.3% vs 2.5% (YoY). NIMs is 2.3% in Q1 FY08 vs 2.5%. Margins remained flat, after accounting for CRR changes. Advances have grown by 35% to Rs 1.98 Lakhs Crore, Deposit grows by 26% to Rs 2.3 Lk Crore. Retail growth is about 30% (YoY), Flat (QoQ),

Management said Balance sheet size is Rs 3.56 trillion up by over 30% in first quarter of FY07. Bank witnessed advances growth of 30% to Rs 1.98 trillion and Deposit growth to Rs 2.3 trillion.

Bank witnessed a slowdown on credit growth in retail side in the industry. Retail sector is expecetd to grow by 25% due to property price rise & interest rate scenario.

Home loans growth has been lower, however, non-collateralised port side yields are attractive on risk adjusted within Retail sector. Management says it also witnesed a slowdown in Home loan growth but sees credit pick up on corporate & international borrowing side.

Net NPA's is at 1.3% while gross NPA's stood at Rs 6000 crore vs Rs 4800 crore

Posted by FR at 9:45 PM  

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