ICICI Bank posts stable earnings
ICICI Bank posted stable asset quality and earnings for Q3FY18, GNPA’s remained little changed. However, the bottom-line remained subdued compared to the quarter and the previous year.
The NII for the quarter rose by 6.4 per cent for the quarter to Rs. 5,705 crore in Q3FY18 as compared to Rs. 5,364 crore in the previous year corresponding quarter. This was largely due to muted interest earnings to Rs. 13,665 crore in current quarter compared to Rs. 13,618 crore in previous year corresponding quarter.
Further, the asset quality remained stable over the quarter as GNPA’s saw minimal 3 per cent qoq increase. GNPA’s as percentage of total advantages declined by 0.05 bps to 7.82 per cent compared to 7.87 per cent in previous quarter.
The provisions also showed 20 per cent qoq decline to Rs. 3,569 crore compared to Rs. 4,502 crore in previous quarter. However, the bottom-line showed 20 per cent yoy decline over previous quarter. The capital adequacy remained high at 17.65 per cent (CAR Basel III).
The stock closed 2.45 per cent down to Rs. 346 per share.