ICICI Securities’ Q2 earnings report: Net profit likely to rise 25% YoY

Speculations are currently in full swing ahead of the release of financial results of ICICI Bank for the September quarter. Investors are speculating about the profit growth of both YoY and QoQ and operation revenue during the second quarter of the current fiscal year. For the unversed, ICICI Bank is the second largest lender in India in the private sector. According to the reports, the financial report for Q2FY24, ICICI Bank will be released on Saturday, October 21, 2023, i.e. today. Therefore, people have been keenly waiting for the financial report of ICICI Bank for the quarter ended 30 September 2023. You are asked to stick with this page and go through it till the end. Swipe down the page for more details.

ICICI Securities

What You Can Expect From ICICI Bank’s Financial Results For Q2FY24?

Talking about ICICI Bank’s financial results for the past few years, the second largest private sector lender in the country has been posting substantial growth and profitability continuously. Can you expect the same with ICICI Bank this year as well? It is expected that ICICI Bank will report resilient earnings for the quarter that ended September 30, 2023, despite compression in NIM (Net Interest Margins). Sources have claimed that the systemic loan growth is likely to be reported healthy for the second quarter, due to constant traction in Retail and SME segments. Swipe down the page and read more details.

An analyst asserted that the deposit growth in the overall banking system increased to 12.8 percent YoY, after aid from the benign base, a boost in the real rate of return, and the discontinuance of the Rs2000 denomination bank notes. It is expected that ICICI Bank will report a strong net profit and NII (Net Interest Income) growth during the second quarter of the current fiscal year. Talking about the net interest margin of ICICI Bank, it is expected to remain the same for the quarter ended September 30, 2023.

The renowned brokerage firm Motilal Oswal Financial Services stated, “Margins have peaked out in Q4FY23 at around 4.9%, and the re-pricing of liabilities and SA deposits churning into TD would keep funding costs elevated and exert pressure on margins. With ~70% of the book being floating in nature, most of the asset re-pricing has happened, and loan yields might stagnate going further,” The slippage of ICICI Bank likely to remain stable for Q2FY24 as the bank is cushioned with higher provisions on the balance sheet. Stay tuned to this website.

Amzad Khan
Amzad Khan

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