18-Oct-2026 17:07:46
ICICI BANK Q2 CONCALL : Q3 NIM PRESSURE EXPECTED, STRONG RECOVERY FROM Q4 & ROBUST LOAN GROWTH OUTLOOK
• NIM EXPECTED TO DECLINE FURTHER IN Q3 FY27 DUE TO FCNR-B DEPOSITS & LOWER-MARGIN OVERSEAS LENDING • HEALTHY NIM RECOVERY EXPECTED FROM Q4 FY27, EVEN WITHOUT FURTHER REPO RATE HIKES • UNDERLYING LOAN GROWTH STRONG AT 24.1% YOY; MANAGEMENT EXPECTS CONTINUED GROWTH MOMENTUM • CORPORATE LENDING DEMAND EXPECTED TO REMAIN STRONG, DRIVEN BY WORKING CAPITAL, REFINANCING & CAPEX • EXCESS FCNR-B LIQUIDITY EXPECTED TO BE DEPLOYED OVER NEXT TWO QUARTERS • NORMALIZED CREDIT COST EXPECTED TO REMAIN AT OR BELOW 50 BPS • RETAIL LOAN GROWTH EXPECTED TO IMPROVE, SUPPORTED BY MORTGAGES & PERSONAL LOANS • GOLD LOAN VOLUMES EXPECTED TO RECOVER AFTER RBI-RELATED OPERATIONAL ADJUSTMENTS • CREDIT CARD GROWTH EXPECTED TO REMAIN BROADLY STABLE TO MARGINALLY POSITIVE • AGRICULTURAL PROVISION REVERSAL TIMELINE REMAINS UNCERTAIN
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