Q2 Review: Here's what analysts expect from ICICI Bank
ICICI Bank is likely to report net profit at Rs 2381 crore, up 1.7% quarter-on-quarter and down 21% year-on-year, says HDFC Securities. Photo: Reuters
Private lender ICICI Bank will be announcing its second quarter September 30, 2016 results on Monday.
Shares of ICICI Bank rose 1.37% on BSE Sensex, trading at Rs 273.40 per share ahead of Q2 earnings.
HDFC Securities, in a note said, “ ICICI Bank is likely to report net profit at Rs 2381 crore, up 1.7% quarter-on-quarter and down 21% year-on-year."
It further said, “Net Interest Income is expected to remain flat to Rs 5160 crore QoQ and down 1.7% YoY.”
While Kotak Institutional Equities in one of its reports said, “Performance of ICICI Bank will be keenly watched as analyst expects slippage ratio to further decline from 1QFY16 levels as key portfolios have already taken a fair bit of pain.”
Kotak expects the bank to have a strong quarter with ICICI Prudential Life Insurance stake sale as proceeds from the stake sale could curb in cleaning up the bank's balance sheet.