ICICI Bank Q2 Results Review - Steady Asset Quality, A Key Positive Surprise: Systematix

The brokerage retains its Buy rating on the stock with a revised target price of Rs 1,455.

ICICI Bank Ltd.  (Source: Vijay Sartape/ NDTV Profit)

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Systematix Research Report

ICICI Bank Ltd. reported Q2 FY25 PAT of Rs 117 billion (+6.2% QoQ, +14% yoy) led by higher operating income growth and controlled opex increase.

A key positive surprise was that asset quality metrics continued to remain benign as opposed to an industrywide trend of deterioration.

This was despite the bank having compounded its unsecured portfolio faster than the sector (since the start of the rate cycle). Overall, a good set of results across all key parameters.

Click on the attachment to read the full report:

Systematix ICICI Bank - Q2 FY25 Results Review.pdf
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Also Read: ICICI Bank Q2 Results: Profit Jumps 14.5% On Higher Core Income

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