Indian Banking Industry News & Updates - April 2023
Brokerages bullish on ICICI Bank stock after Q4 results
New Delhi: An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses. Compliance with regulatory norms shall be one of the key valuation drivers over the next 12 months, and ICICI ticks most boxes, even as many of its peers are being pulled up for lapses, analysts noted.
Street disappointed with SBI Cards & Payment Services' Q4 performance
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent. The margin contraction was 39 basis points (bps) quarter-on-quarter (Q-o-Q) to 10.9 per cent coupled with poorer asset quality. The gross NPA was up 20 bps Q-o-Q to 2.8 per cent.
Silver ETF gains greater traction as AUM tops Rs 5,000 crore in April
ICICI Bank shares climb over 2 pc after Q4 earnings
ICICI Bank shares climb over 2% after Q4 earnings
The Indian Express
RBI asks all regulated entities to review their lending practices
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