The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.
ICICI Bank excelled in Q4 with a 17% net profit increase, reaching ₹10,707.5 crore. Fiscal 2024 witnessed a 28% rise to ₹40,888 crore. The bank prioritizes technology, economic growth, and regulatory compliance for future success.
In the upcoming period, bullish momentum may propel the Nifty s rebound towards the 22,300 mark. Additionally, a firm breakthrough above 22,300 could initiate a prolonged rally towards 22,600. Conversely, on the downside, support at a closing basis rests at 22,000.