• ICICI Bank reported its highest-ever quarterly profits in 3QFY20. Loan growth in chosen business segments (Retail, Business Banking & SME) remained buoyant, while deposits growth moderated in the quarter.

• PAT increased 158% YoY , led by strong NII and lower provisions. NII was up 24% YoY led by ~13% YoY loan growth and 13bp QoQ margin expansion.

• Deposit growth however moderated to 18% YoY, though the current account saving account (CASA) mix improved to 47% from 46.7% in 2QFY20.

• Fresh slippages increased to INR43.6b, led by a broking and south-based industrial group, resulting in corporate slippages of INR24.7b. Retail slippages stood at INR18.9b.

• Credit trends in the retail portfolio are stable, while it is witnessing some deterioration in the Kisaan credit card and commercial vehicle portfolio.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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