ICICI Bank to enter new growth phase with strong loan growth and lower credit cost; pick up in economy to lead to higher creit growth

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ICICI Bank is India’s second largest bank in terms of assets and market capitalization and has a large network of branches and ATMs across India and a presence in 17 countries including India. ICICI Bank’s performance had been adversely affected due to bad loans and slow credit growth however that is in the past and the bank is posting industry leading performance on all parameters. Post recovery from this pandemic, ICICI Bank should enter a new growth phase characterized by good asset quality, healthy credit growth and superior margins. Keeping this in mind, we have an over weight rating on the stock. There is value being created in subsidiaries

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