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Tuesday, December 13, 2011

ICICI Bank Ltd:-Buy/sell/growth prospects and recommendation,news and results,target and analysis,view and outlook,multibagger

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Story:ICICI Bank Limited provides various banking and financial services in India and internationally. Its services include commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking, and treasury products and services. The company offers current and savings accounts, fixed deposits, recurring deposits, and salary accounts; and credit and debit cards. Its also provides home loans, commercial vehicle loans, personal loans, car loans, and loans against securities. In addition, the company offers tax saving bonds, government of India bonds, mutual funds, initial public offers, foreign exchange services, and senior citizens savings schemes; and life, health, overseas travel, student medical, motor, and home insurance products, as well as invests in gold. Further, it provides cash management services and global trade services; mergers and acquisitions advisory services and private equity syndication services; financial institution, capital market, and custodial services; and structured and project finance products. Additionally, the company offers business advantage loans, vendor/dealer finance, and industry specific loans; transaction banking and CMS services; trade services; and private equity placement services, as well as involves in investment management; securities investment and trading; and underwriting activities. It also provides NRI banking, international banking, rural and agri banking, Internet banking, mobile banking, and phone banking services, as well as dematerialization services. As of May 31, 2011, the company had a network of 2,529 branches and extension counters, as well as 6,104 ATMs.India’s largest private sector lender ICICI Bank posted a better-than-expected set of numbers for Q2FY12. Its consolidated net profit on a YoY rose by a smart 43% at Rs.1992 crore. Provisioning during the quarter was down. Net NPA ratio stood at 0.80% as against 0.91%, QoQ, which means there has been some improvement in asset quality. Provisions (excluding tax) dropped nearly 30% at Rs.319 crore and its provision coverage ratio is much above the required norm at 78.2%, which in Q1FY12 was at 76.9%. The Bank stated that it has completed provisioning for unsecured loans which is essentially retail. It is now concentrating more on corporate which is more secure.During Q2FY12, its loan book grew 20% on a YoY at Rs.2.34 lakh crore but growth in deposits was muted, showing a growth of (YoY)10% at Rs.2.45 lakh crore. NII for the quarter rose by 14% on a YoY while NIM remained status quo at 2.6%. It aims to attain a credit growth of 18% for the full fiscal year. CASA ratio was at 42.10% v/s 41.9% in Q1FY12.

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