ICICI Bank Share price hits 10% upper circuit: Sharekhan raises target price to Rs 680
Q3 FY21 numbers of ICICI Bank were strong with operational results coming in line with expectations. However, asset quality performance and loan growth were encouraging. Net interest income (NII) rose by 16% yoy and 5.8% qoq to Rs 9912 cr, matching expectations. PAT came in at Rs 4940 cr, up 19% yoy and 16% qoq, in line with estimates.
ICICI Bank Reported GNPA / NNPA declined by 91 bps / 40 bps qoq to 4.72% / 0.69%. Proforma GNPA / NNPA were also decent, rising just slightly by 6 bps / 14 bps as compared to Q2 FY21: Reuters