ICICI Bank: The 'All Weather' Indian Bank [Seeking Alpha]
ICICI Bank Limited (IBN)
US:NYSE Investor Relations:
icicibank.com/aboutus/invest-relations.page
Company Research
Source: Seeking Alpha
The valuation is a hurdle but by no means an insurmountable one. India's second-largest diversified banking group, ICICI Bank ( NYSE: IBN ), has come a long way since its governance lapses under ex-CEO Chanda Kochhar. Current CEO Sandeep Bakshi has not only been scandal-free (so far) but has also checked all the right fundamental boxes. The bank's most recent quarter was a case in point - in contrast with key peer HDFC Bank ( HDB ), which saw erosion on all sides of the P&L, ICICI Bank showed much better resilience and a clear path to defending its margins going forward. To be clear, the path ahead won't be without speedbumps, as system liquidity, even after recent injections, remains very tight in India; as a result, competition for low-cost deposits will continue to be intense into the coming months. In any case, ICICI Bank's structurally low funding cost stands out and should help it underwrite continued credit and earnings growth through the cycles. It's also worth keeping th
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IBN
News
- India's ICICI Bank exposed thousands of credit cards to ‘wrong' users [TechCrunch]TechCrunch
- India's ICICI Prudential reports narrower new business margin for FY 2024 [Reuters]Reuters
- Arcelormittal Nippon Steel India in Talks for $1 Billion Loan [BNN Bloomberg (Canada)]BNN Bloomberg
- ICICI Lombard's Q4 profit rises on higher premiums earned [Reuters]Reuters
- India swaps suggest cenbank now likely to hold rates through 2024 [Reuters]Reuters
IBN
Sec Filings
- 4/26/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/19/24 - Form 6-K
- IBN's page on the SEC website