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Targets indicate more upside for ICICI Bank; growth triggers remain

The gross non-performing assets (NPA) to net NPA ratios declined 26 basis points and 7 basis points quarter on quarter (QoQ) respectively to 2.81 per cent and 0.48 per cent

ICICI
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Devangshu Datta

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ICICI Bank beat street expectations in the fourth quarter of the financial year 2022-23 (Q4FY23). The profit after tax (PAT) was at Rs 9,100 crore with net interest income (NII) at Rs 17,700 crore, and net interest margin (NIM) at 4.9 per cent - which was up 25 basis points up QoQ. Fee income (ex-treasury gain) increased 10.6 per cent YoY to Rs 4,800 crore. The treasury loss was at Rs 40 crore versus gain of Rs 36 crore in Q3.

The stock has responded positively. Analysts have a positive outlook as well, with valuations ranging from Rs 1,070, through

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First Published: Apr 24 2023 | 10:09 PM IST

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