Buy ICICI Bank - Q3FY13 Result Update - IIFL

- Loan growth in line with expectations; domestic book grows by 20%

- Impressive NIM performance continues; margin to stabilize from hereon

- Core fee income continues to be weak; C/I ratio declines on higher treasury income

- Asset quality improves; outlook remains benign

- Capital adequacy robust; strong RoA delivery continues

- Valuation re-rating to continue; 9-month target price Rs1,350.

Source : Equity Bulls

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