So, it shouldn’t be very surprising that the bank’s March quarter earnings were largely in line with expectations. In a post-earnings conference call, the bank’s management clarified that NIMs were aided by an income-tax refund of around ₹400 crore. The ICICI Bank management is hopeful that the situation on the slippages and provisions front would improve further. So far this year, the ICICI Bank stock has risen 12%, slightly higher than the 9% gain in the Nifty Bank index. This is lower than competitors HDFC Bank Ltd and Axis Bank Ltd, which are trading at 3.28 times and 2.52 times, respectively.

Source: Mint May 06, 2019 14:48 UTC