ICICI Bank Q3 results today: Know what brokerages say ahead of earnings?
economictimes.indiatimes.comICICI Bank will announce its December quarter earnings, later today where it is expected to report a 20% year-on-year (YoY) growth in net profit at Rs 9,984 crore, and net interest income (NII) of Rs 18,474.30 crore which is sa 12% uptick as per the average of estimates given by 12 brokerages.
ICICI Bank’s October-December quarter earnings is likely to be aided by a higher than industry growth in the loan book, lower credit costs, and steady asset quality.
India’s second largest private sector lender is expected to report a 20% year-on-year (YoY) growth in net profit for the December quarter to Rs 9,984 crore, and net interest income (NII) is seen growing by 12% to Rs 18,474.30 crore, the average of estimates given by 12 brokerage firms showed.
KRChoksey Shares
We expect the loan book to grow by 18.4% YoY/3.9% QoQ, with continued healthy momentum in the retail and SME segments. The deposits are expected to grow by 19.2% YoY/3.3% QoQ, with CASA at 40.9% as of December end.
We expect a compression of NIMs by 10 bps QoQ due to a higher cost of funds.
We expect PPOP (pre-provision operating profit) to grow by 7.6% YoY with a cost-to-income ratio of 41.5% versus 40.9% in Q2FY24.
PAT will likely grow by 21.0% YoY, primarily led by lower credit costs YoY. It is expected that asset quality will remain steady with moderate slippages.
Axis Securities
Advances growth is expected to be healthy at 18% YoY, led by retail and SME segment, comments on slowdown in unsecured portfolio remain key monitorables.
Margin compression is likely to be visible, though slightly lower in quantum QoQ. Healthy fee income and stable cost ratios to support PPoP growth. Benign credit costs to support earnings, no challenges on asset quality books.
