CLSA has maintained an Outperform rating on ICICI Bank, with a target price of ₹1,600, implying a potential upside of approximately 27% from the current market price of ₹1,259.60. CLSA highlighted ICICI Bank’s steady quarter with mid-teens balance sheet growth and minimal credit costs.
Key Points:
- Operating Leverage: Pre-Provision Operating Profit (PPOP) growth outpaced NII, driven by operational efficiency.
- Stable Asset Quality: GNPL ratio was stable, and credit costs were low at 40 bps.
- Comfortable LDR: ICICI Bank’s Loan-to-Deposit Ratio of 85% is favorable, with a high level of standard asset provisioning.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
