ICICI Bank Ltd (NYSE:IBN)

$ 27.32 0.23 (0.85%) Market Cap: 96.02 Bil Enterprise Value: 103.07 Bil PE Ratio: 18.27 PB Ratio: 3.10 GF Score: 76/100

Q2 2020 ICICI Bank Ltd Earnings Call Transcript

Oct 26, 2019 / 10:30AM GMT

Transcript

Sandeep Bakhshi

ICICI Bank Limited - MD, CEO & Executive Director

Good afternoon to all of you, and welcome to the ICICI Bank earnings call to discuss the Q2 2020 results. Joining us today on this call are Vishakha, Anup, Sandeep Batra, Rakesh and Anindya.

Our core operating profit increased by 23.6% year-on-year to INR 65.33 billion in Q2 of 2020. We continue to maintain a stable and healthy funding profile. We are focused on growing retail term deposits and our CASA deposits in absolute terms.

During the quarter, savings account deposits increased by INR 120.93 billion to INR 2.3 trillion, and current account deposits increased by INR 140.3 billion to INR 944.31 billion at September 30, 2019. The average CASA deposits increased by 10.9% year-on-year in Q2 of 2020.

On the assets side, the domestic loan book grew by 16.4% year-on-year at September 30, 2019, driven by retail loans, which grew by 22.2% year-on-year. The overall loan growth was 12.6% year-on-year.

Over the past year, we have taken a number of initiatives on the digital front to expand the customer

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