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ICICI (IBN) Is An Unappreciated Global Bank

|Includes:ICICI Bank Ltd. (IBN)

That suffers for being a bank and for being based in India.

But on April 27 they beat estimates with a 31% rise in profit. They are growing their loan portfolio in an expanding economy. Non performing loans are under 1% of assets.

The Reserve Bank of India are projecting loan growth for the Indian economy and ICICI management expects loan growth for the bank.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: IBN