ICICI Bank sees another margin squeeze in Q3 as FCNR-B costs kick in

ICICI Bank Ltd, India's second largest private-sector bank, expects its net interest margin (NIM) to dip marginally in the December quarter as the full cost of foreign currency non-resident bank (FCNR-B) deposits raised in the September quarter kicks in, before margins begin to recover.“The full impact would largely get reflected in the third quarter, after which we expect the margins to start moving up, even based on the current level of policy rates,” executive director Sandeep Batra said at a…