Buy ICICI Bank with a target of Rs 337: Motilal Oswal Securities

Motilal Oswal Securities has a buy call on ICICI Bank Ltd. with a target price of Rs 337 . The current market price of ICICI Bank Ltd. is Rs 251.15 . Time period given by analyst is year when ICICI Bank Ltd. price can reach defined target.
Strong capitalisation (CET1 of 13%), significant improvement in granularity of the book (52% retail and SME), sharp improvement in liability profile (CASA ratio of 40%) is helping ICICI Bank to build a low risk business without much impact on core earnings.On asset quality , high proportion of incremental disbursement to A and above rated corporate and recognition of actual stress on balance sheet will reduce concerns over asset
quality in FY17.