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ICICI Bank Q1 PAT may jump 60% YoY on stake sale in insurance arms: Experts

A more optimistic estimate by analysts at Nirmal Bang Institutional Equities pegs the profit at Rs 4,016.4 crore, up a whopping 110.5 per cent YoY and 228.8 per cent QoQ

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On the lower end, analysts at Phillip Capital expect the net profit to grow just 15 per cent YoY and 79 per cent QoQ to Rs 2,189 crore. | Photo: Bloomberg

Nikita Vashisht New Delhi

4 min read Last Updated : Jul 24 2020 | 8:02 AM IST

Firming up its position as one of the strongest private players in the banking sector, ICICI Bank may clock up to 60 per cent year-on-year (YoY) growth in net profit at Rs 3,108 crore in the April-June quarter of FY21 (Q1FY21) supported by stake sale gains from ICICI Prudential Life Insurance and ICICI Lombard, say analysts. The bank is scheduled to announce its Q1FY21 numbers on Saturday, July 25.

However, weak credit growth amid disrupted business activity – courtesy Covid-19 induced lockdown - and cut in marginal cost of funds-based lending rate (MCLR) may put mild pressure on interest margins, they

Topics : Coronavirus ICICI Bank India Inc earnings Markets ICICI Lombard General Insurance ICICI Prudential Life Insurance Reserve Bank of India Non performing assets Edelweiss Securities Sharekhan ICICI Securities HDFC Securities

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