scorecardresearchS&P affirms 'BBB-' rating on ICICI Bank on improved asset quality

S&P affirms 'BBB-' rating on ICICI Bank on improved asset quality

Updated: 27 Jun 2022, 03:58 PM IST
TL;DR.
ICICI Bank's better customer profile and underwriting relative to the Indian banking sector will likely limit losses from the spillover impact of geopolitical tensions. Retail loans form about 53 per cent of the bank's loan portfolio, it said.
ICICI Bank: The brokerage has a 'buy' call on the stock with a target price of  <span class='webrupee'>₹</span>990 per share for the stock, indicating an upside of 33 percent. Strong traction in loan book, strengthening operating performance and comfort on asset quality are key positives for the stock, it said. The bank has been outperforming its peers and has been ticking most boxes on growth, margins and asset quality added the brokerage. On the valuation front, it believes the bank continues to be on a comfortable footing.

ICICI Bank: The brokerage has a 'buy' call on the stock with a target price of 990 per share for the stock, indicating an upside of 33 percent. Strong traction in loan book, strengthening operating performance and comfort on asset quality are key positives for the stock, it said. The bank has been outperforming its peers and has been ticking most boxes on growth, margins and asset quality added the brokerage. On the valuation front, it believes the bank continues to be on a comfortable footing.