Summary State Bank of India - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights State Bank of India (SBI) is a universal bank. It provides a range of retail banking, corporate banking, and treasury services. The bank serves individuals, corporations, and institutional clients. ...
Summary Marketline's Indian Overseas Bank Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Indian Overseas Bank - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Inves...
ICICI BANK (IN), a company active in the Money Center Banks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date ...
ICICI BANK: Growing franchise through technological innovations (ICICIBC IN, Mkt Cap USD66.2b, CMP INR717, TP INR1000, 40% Upside, Buy) We attended ICICIBC analyst day, where the management highlighted how the strengthening of its digital capabilities is helping transform the bank and increase throughput rates, while offering customers a superior experience. The bank is capable of building and scaling digital capabilities like the best of the FinTechs, though agility, constant innovation...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Three Directors at ICICI Bank Limited sold/sold after exercising options 293,725 shares at between 603.556INR and 613.103INR. The significance rating of the trade was 85/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by...
TORONTO--(BUSINESS WIRE)-- ICICI Bank Canada today announced the launch of a debit card. Named, ‘ICICI Bank Canada Visa Debit Card’, it offers customers an unparalleled benefit of online shopping, purchasing at millions of retail outlets across the world and making quick contactless payments at Point of Sale (PoS) machines across Canada. This card also empowers customers to withdraw cash from thousands of Automated Banking Machines (ABMs) in the country without surcharge#. Further, the Bank offers customers the ease of activating the card and blocking/unblocking it with a few simple clicks on...
ICICI Bank hosted an analyst day. The focus was to highlight strategy, risk management and digital capabilities around each of the key business segments in retail and wholesale banking. The bank showcased the progress it had made on its digital capabilities with an ‘experience’ session at the end where the bank showcased its key digital offerings including insta savings and other insta products, trade and business apps, supply chain solutions, FASTag (electronic toll collection), API led solutio...
Q3FY20 result highlights ICICI Bank delivered strong operating performance in a tough environment. PAT of Rs41.5bn grew 158% yoy and 533% qoq driven by recovery income of Rs21bn from Essar Steel. Healthy loan growth, higher core NIM, strong fee growth and healthy CASA were the key positive highlights. Slippage was higher qoq but still lower than other large banks. Increase in BB was lower than that for AXIS in absolute terms. Loans grew 13% yoy and 4% qoq. Domestic loans grew 16% yoy while ...
ICICI Bank: Strong operating performance; margins expand on improving asset mix (ICICIBC IN, Mkt Cap USD48.4b, CMP INR534, TP INR650, 22% Upside, Buy) Slippages increase but outlook stable Buoyed by a strong performance across metrics, ICICIBC reported its highest-ever quarterly profits (supported by Essar resolution) in 3QFY20. Loan growth in chosen business segments (Retail, Business Banking & SME) remained buoyant, while deposits growth moderated in the quarter. Slippages adjusted fo...
ICICI BANK: Growth momentum robust; technology remains a key business enablerICICI BANK: Growth momentum robust; technology remains a key business enabler(ICICIBC IN, Mkt Cap USD45.9b, CMP INR509, TP INR625, 23% Upside, Buy)We attended ICICI Bank’s (ICICIBC) analyst day, wherein the bank highlighted the progress that its different businesses are making and how well it is positioned to capitalize on the exciting opportunities in financial services. The topics of discussion ranged around (a) manag...
Q2FY20 result highlights ICBK reported a solid quarter. While PAT of Rs6.5bn declined yoy and qoq, that was largely on account of mark-down of deferred tax assets resulting in a negative charge of Rs29.2bn. Ex DTA, PAT of Rs35bn grew 28% qoq and 3x yoy. Operating performance was strong driven by strong retail loan growth, pick up in fees, higher NIMs and lower credit cost. Loans grew 13% yoy and 3.5% qoq. Domestic loan growth was strong at 16% yoy. Retail loans continue to grow strongly at...
ICICI BANK: Robust performance; on track to achieve near-term RoE target (ICICIBC IN, Mkt Cap USD42.7b, CMP INR469, TP INR550, 17% Upside, Buy) ICICIBC reported 2QFY20 PAT of INR6.5b (-28% YoY), higher than our estimate of INR4.5b, led by strong NII and other income. Adjusted for the DTA reversal of INR29.2b, PAT would have been INR35.8b. PBT was at INR43.7b (in-line). For 1HFY20, PPoP grew 19% YoY to INR131.6b, while PAT came in at INR25.6b compared to INR7.9b in 1HFY19. NII increased 2...
We met with ICICI Bank. Key highlights: 1) Impact of external benchmarking will likely be gradual and will depend on the proportion of existing borrowers that want to convert to external benchmark based rates. 2) BB portfolio will rise after falling for three quarters (but we do not see this as a major concern because ICICI’s share of new stress loans that have surfaced since May is low). Negative impact of deferred tax will come in forthcoming 2QFY20. External benchmarking: The conversion fro...
ICICI BANK: Well placed in a challenging macro environment; Operating metrics improving steadily; Asset quality well-guarded!(ICICIBC IN, Mkt Cap USD35.6b, CMP INR396, TP INR520, 31% Upside, Buy) ** ICICI Bank's (ICICIBC) annual report reaffirms our view that the bank is progressing well in its endeavor to strengthen balance sheet with strong focus on retail franchise. While its retail portfolio has been leading overall loan growth, GNPA has remained stable at 1.7% for many years; also, retail ...
Fed cut, now what? The Fed's 25 bps cut and Powell's evasiveness in committing to a new easing cycle was seen as more hawkish than expected. In our opinion Powell was essentially saying the Fed will act as appropriate moving forward, and we can't blame him considering this was largely an “insurance cut†as opposed to a rescue attempt to avoid recession, and we may or may not need additional insurance moving forward. Overall the weight of the evidence supports further consolidation - i.e., n...
Q1FY20 result highlights ICBK reported a solid quarter with PAT of INR19bn (our estimate of 15bn) versus loss last year and a growth of 97% qoq. While NII was higher than expected, fees and trading gains were lower. Strong domestic loan growth, stable margins and a substantial improvement in asset quality are the key drivers. Asset quality improved with decline in both GNPAs and the BB portfolio. Most importantly PCR improved to 74% from 70% qoq and is now the highest among all corporate bank...
Q1FY20 result highlights ICBK reported a solid quarter with PAT of INR19bn (our estimate of 15bn) versus loss last year and a growth of 97% qoq. While NII was higher than expected, fees and trading gains were lower. Strong domestic loan growth, stable margins and a substantial improvement in asset quality are the key drivers. Asset quality improved with decline in both GNPAs and the BB portfolio. Most importantly PCR improved to 74% from 70% qoq and is now the highest among all corporate bank...
ICICI BANK: Operating performance strong; Provision coverage improves further (ICICIBC IN, Mkt Cap USD38.9b, CMP INR416, TP INR520, 25% Upside, Buy) ICICIBC's 1QFY20 PAT of INR19.1b (est. of INR21.2b), was led by strong NII and controlled opex. Core PPoP grew a healthy 21% YoY (in-line). NII grew 27% YoY to INR77.3b, led by healthy loan growth with additional boost from interest on IT refunds. NIMs stood at 3.62% v/s 3.72% in 4QFY19 including 9bp impact on IT refund (INR1.8b) and 8bp imp...
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