Leading private lenders expect lending momentum to continue after strong June-quarter growth, with companies increasingly opting for bank loans over costlier bond market borrowings
Net interest income grows 12.7 per cent, provisions fall 31 per cent and gross NPAs improve as advances rise nearly 20 per cent year-on-year
Net interest income rose 12.3 per cent to ₹29,177.13 cr, while NIM rose marginally to 4.36; consolidated advances grew 19.6 per cent to ₹17.29 trillion, and deposits were up 14 per cent to ₹18.70 trn
Q1FY27 company results: Firms including ICICI Bank, Punjab National Bank, IDBI Bank, Yes Bank, Punjab & Sind Bank, Can Fin Homes, and JK Cement are also to release their April-June earnings today
Share price of ICICI Bank hit a 11-month high, gaining 2.2% at ₹1,450 on the BSE in Friday's intra-day deals ahead of its Q1FY27 earnings on Saturday.
ICICI Bank is slated to post its June quarter earnings this Saturday, along with several other leading private banking names like HDFC Bank and Axis Bank.
Banking and financial stocks led the market rally on Wednesday, ahead of upcoming Q1FY27 results from major private lenders, including HDFC Bank, Axis Bank and ICICI Bank, due over the weekend.
India's banking sector is set to kick off the Q1FY27 earnings season, and early estimates point to another healthy quarter. Strong loan growth, stable asset quality, and treasury gains
TPG, backed by GIC and ICICI Bank, to acquire Aseem Infrastructure from NIIF, strengthening its push into India's climate and infrastructure financing
ICICI Prudential Life will seek IRDAI approval to reclassify Prudential as an investor after the UK insurer agreed to acquire a 75 per cent stake in Bharti Life Insurance
ICICI Bank will become the fourth commercial bank to take advantage of RBI's concessional swap window for overseas foreign currency borrowing
The lender is expected to raise at least $500 million through a likely five-year bond issue, according to the bankers familiar with the matter
Ban stocks are in the spotlight today as the RBI allowed domestic lenders to extend loans to non-residents against foreign currency deposits, including via their offshore branches.
Private banking and select IT stocks led market pullback on Wednesday as lower oil prices, and hopes of India-US trade deal lifted sentiment.
In the past one month, ICICI Bank outperformed the market by surging 9 per cent, as compared to 1 per cent rise in the Nifty 50.
The medium-term outlook for the banking sector remains constructive, supported by healthy credit growth, stable asset quality and improving liquidity conditions, says Motilal Oswal.
The combined market valuation of eight of the top-10 most valued firms surged by Rs 1.90 lakh crore last week, with ICICI Bank stealing the show, in tandem with a rally in equities. Last week, the BSE benchmark Sensex jumped 1,284.61 points, or 1.73 per cent, and the NSE Nifty surged 256.2 points, or 1 per cent. "Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Investor confidence improved on optimism surrounding a potential USIran peace deal, which raised hopes of easing geopolitical tensions and stabilising energy markets, he added. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Tata Consultancy Services (TCS)
In the past one week, the Nifty Bank outperformed the market by gaining nearly 3%, as against 0.05% decline in the Nifty 50.
Lenders are raising FCNR(B) deposit rates following the RBI's special swap window, with some private banks offering rates above 6 per cent to attract NRI inflows
Unichem Laboratories, Aegis Logistics and ICICI Bank were among the volume toppers on the BSE and NSE on Thursday.