Bank Results Season: ICICI Bank proves long term investments in patience pay in Q1 2013

The bank’s increased restructuring and long pain in retail advances which are still a majority of its portfolio still did not stop its growth, finally coming ahead of the others despite taking the longer route after the Kamath bloodbath decade in retail aggressiveness. Net NPAs are down to 0.71% continuing the downward NPL trajectory and a CAR of 18.5%  the Profits easily grew ell over the 30% mark

PAT is up to INR 18.15B decreasing sequentially from a INR19.02 B in March which was Q4 of the previous year with NII up from INR27.1 B in December and 29 B in March to 32 B. ICICI Bank added provisions of INR4.66B and Other income is down probably from decline in fee based investment banking income than the retail banking and commercial banking charges Provisions are the same as last quarter.

ICICI Bank’s Other income is INR 1879 Crores but Topline excluding Interest is INR5062 Crores or INR 50.6 B leaving NII at around INR32 B and Gross Interest Income has grown 580 Crores in one quarter or 6.7%

PNB NII is up to INR36.9B and seeming recoveries of INR 15B have helped the bank’s bottomline to also move smartly. Its restructured assets could outshine others’ gwith INR240B exceeding 50% of the Total Bank Credit assets of a YES BANK that is still growing is asset book hard and steady at almost 10% sequentially. As we said provisions at INR10.3 B look almost anemic compared to the book.

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