ICICI Bank is caught in a bind with its credit book refusing to grow and its tag of a behemoth, much unwarranted and frequently denied by the new senior management, falling ill on its shoulders. A pathetic turn on single digit growth in advances (low double digits) and a CAR now 19.98% despite the current crisis, I could almost count that as a fatal flaw with a large bank, NIMs obviously thus remain a concern at 2.8% and the Gross NPAs refuse to come don now still 4.75%. 

 

Having talked of the albatross, one must come back to Alexandria, where the behemoth of this subcontinent created another monument in Alabaster ( as preferred by Alexander the Great and family) The NIMs were a concern here as well but improving more steadily and NPAs next to none giving a fillip to its vote of confidence on the Economy's growth in credit (Quality Credit) SBI NII was up 43% to $2 billion (INR 9000 Crs) and Op Profits up 46% to $1.5 billion. Size does matter but only when its SBI and yoy NIM has improved from 2.56% to 3.40 % Get it

ICICI Bank grew better in profits seemingly ( on as  smaller base) and also gets a reprieve on the 70% PCR clause where SBI has also caught up pretty fast this quarter coming to 66% over 56% last year and against a final target of 70%. Its NPAT grew 14% after trebling provisions to $500 million (INR 2000 Crores) 

 

India Earnings Season (Bank results season December 2010)

 

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