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Nirmal Bang Report
We recently hosted the management of ICICI Bank Ltd., as part of our week-long Investor conference. Overall, the management is quite confident about the business environment in terms of credit growth in the banking system.
The management indicated that for January 2022, retail segment volume held up well while growth in small and medium enterprise and business banking segments was healthy. However, in the corporate segment, some slowdown is expected in various sectors as capex has been happening but at a slower pace.
Also, the management has been confident about the overall exposure to the Adani group as most of the exposure is towards operating companies. It does not envisage asset quality issues regarding the same.
We remain positive on ICICI Bank given its growth outlook and earnings trajectory.
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