ICICI Bank Gross NPA reduced for Dec-2023 ending quarter and it is good news related to ICICI Bank : Dec-2023 Gross NPA is 2.30% whereas Sep-2023 NPA is 2.48%

ICICI Bank Gross NPA for Dec-2023 ending quarter is 2.3%.

ICICI Bank Gross NPA for Sep-2023 ending quarter is 2.48%.

ICICI Bank Gross NPA for Dec-2022 ending quarter is 3.07%.

ICICI Bank Gross NPA reduced for Dec-2023 ending quarter and it is good news related to ICICI Bank.

Overall ICICI Bank performance is above street expectation.

ICICI Bank Net profit (Consolidated) after minority interest and including share of associates is 11,052 Crores INR for quarter ending Dec-2023. In Sep-2023 ending quarter, net profit was 10,896 Crores INR whereas for quarter ending Dec-2022, net profit was 8,792 Crores INR.

Even Kotak Bank posted good results for quarter ending Dec-2023 relatively when compared with street expectation.

Results of ICICI Bank and Kotak Bank shows there are no issues related to net interest margin. In HDFC Bank, the reason for net interest margin to come down is because of HDFC Bank and HDFC are merged. HDFC deals with house loans mainly and so net interest margin will be less relatively when compared with HDFC Bank before merging.

Post HDFC Bank posted results, Bank Nifty became weaker. Now post ICICI and Kotak banks results are posted today, Bank Nifty gained 357 points and closed at 46,058.