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ICICI Financial institution Ltd. reported robust advances progress of 20/4% YoY/QoQ, pushed by sustained progress within the retail (up 23/4% YoY/QoQ), small and medium enterprise (up 25/8% YoY/QoQ), and the enterprise banking guide (up 38/5% YoY/QoQ).
Retail progress was primarily led by auto finance, private loans, and bank card section. Pushed by robust credit score progress and margin growth (up 69/34 foundation factors YoY/QoQ), internet curiosity earnings grew by 35/11% YoY/QoQ.
Price earnings progress remained muted at 4/2% YoY/QoQ. Opex progress stays regular at 16/9% YoY/QoQ with the cost-income ratio at 38.2% versus 41.1% YoY/QoQ.
Pre-provision working revenue progress was wholesome at 31/14% YoY/QoQ. Provisions have been barely increased (up 12/37% YoY/QoQ) owing to ICICI Financial institution tightening its provisioning norms for the company/SME section’s nn performing belongings.
Regardless of increased provisions, earnings progress was wholesome at 34/10% YoY/QoQ.
Asset high quality improved led by higher recoveries regardless of marginally increased slippages from the agri pool. GNPA stood at 3.1% (down 106/down 12bps YoY/QoQ).
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