ICICI Bank: Investors should wait for a turnaround in credit demand

ICICI Bank stock has corrected 37 per cent in three months. But investors should not rush into it

When Sandeep Bakshi took charge as the MD & CEO of ICICI Bank in October 2018, the bank was in a volatile state. Yet, he guided the bank to a quick turnaround and delivered the goods. Now, against the backdrop of Covid-19 pandemic, it seems that the bank's growth story will take a pause as the management has changed its outlook from optimistically cautious to extremely cautious in March quarter (Q4). While the change in stance is good in the current situation, it will have an impact on financials.

Unlike its private peers, ICICI Bank is also more watchful of