ICICI Bank bounces back
By
Research Desk
about 10 years ago
ICICI Bank was range bound around Rs.293 levels till it announced its Q1FY16 numbers. The moment the numbers came in, the stock zoomed up almost 6% to Rs.307 levels.
The Bank posted encouraging numbers for Q1FY16 with an improvement in both profitability as well as asset quality. The largest private sector bank reported a 12% (YoY) rise in net profit at Rs.2976 crore in a 14% jump in NII at Rs.5115 crore.
Asset quality also improved – Gross NPA fell 10 bps to 3.68% (QoQ) and Net NPA showed a marginal decline of 3ps at 1.58%.