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Correction in ICICI, Axis Bank stocks can be a long-term opportunity

The two lenders posted strong performance in Q2, and analysts' target prices indicate upside of at least 35-40%

Axis Bank, ICICI Bank
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Devangshu Datta New Delhi
The performances of ICICI Bank and Axis Bank in the second quarter of financial year 2021-22 (Q2FY22) offer an interesting comparison. Axis Bank saw a small 0.07 per cent decline in margins sequentially and low growth in core pre-provision operating profits (PPOP).

Corporate advances decline sequentially, but there was a strong recovery in SME/retail. Lower provisioning was visible, boosting net earnings, which beat expectations. Fee income also grew, but slippages remained high.

ICICI Bank reported a strong Q2, with sequential growth in net interest income (NII) and net interest margin (NIM). It also had strong fee income trends, and beat expectations in

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