ICICI BANK

This private sector bank posted a disappointing set of numbers for Q3FY17, both on the profitability as well as asset quality front, indicating that it continues to grapple with its bad loans.

Net profit for the quarter was down 19% (YoY) at Rs.2442 crore on a 2% drop in NII at Rs.5363 crore.

Net NPA for the quarter was up from 3.57% to 4.35% (QoQ) while Gross NPA rose from 6.82% to 7.91%. Domestic loan growth decelerated to 12% v/s 15.9% sequentially. Rs7,057 crore worth of loans turned bad, lower than the previous two quarters.

Its provision coverage ratio slipped to 57% from 65% a year ago. Provisions were down 5% (YoY) at Rs.2713 crore and down 62% sequentially.

The only good news here – domestic advances rose 12% and retail portfolio now comprises 49% of total loans as at 31st Dec’16 – this was up 18% (YoY).