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Discover ICICI Bank’s impressive Q2 results with a 14.5% rise in net profit and robust growth in net interest income. Learn more about their financial performance and key metrics.
ICICI Bank’s Impressive Q2 Performance
ICICI Bank, India’s second-largest private lender, has reported outstanding financial results for the second quarter of FY25. The bank’s standalone net profit surged by 14.5% year-over-year, reaching ₹11,746 crore, up from ₹10,261 crore in the same period last year.
Key Financial Highlights
- Net Interest Income (NII): Increased by 9.5% YoY to ₹20,048 crore in Q2FY25, compared to ₹18,308 crore in Q2FY24.
- Net Interest Margin: Reported at 4.27% for Q2FY25, down from 4.36% in Q1FY25 and 4.53% in Q2FY24.
- Core Operating Profit: Rose by 12.1% YoY to ₹16,043 crore in Q2FY25. Excluding dividend income from subsidiaries and associates, core operating profit grew by 13.4%.
Deposit and Loan Growth
The bank experienced robust growth in its deposit base, with average deposits increasing by 15.6% YoY to ₹14,28,095 crore as of September 30, 2024. The average current account and savings account (CASA) ratio stood at 38.9% during this period.
- Domestic Loan Portfolio: Grew by 15.7% YoY to ₹12,43,090 crore as of September 30, 2024.
- Net NPA Ratio: Improved slightly to 0.42% from 0.43% at the end of June 2024, while the provisioning coverage ratio for non-performing loans was 78.5%.
Capital Adequacy and Non-Interest Income
As of September 30, 2024, the total capital adequacy ratio stood at 16.66%, with a CET-1 ratio of 15.96%. Non-interest income, excluding treasury gains, climbed by 10.8% YoY to ₹6,496 crore, bolstered by a 13.3% increase in fee income, reaching ₹5,894 crore. Notably, fees from retail, rural, and business banking customers made up approximately 78% of total fees.
Consolidated Results
On a consolidated basis, profit after tax surged by 18.8% YoY, amounting to ₹12,948 crore in Q2FY25, compared to ₹10,896 crore in Q2FY24. The bank’s consolidated assets increased by 18.4% YoY to ₹25,16,512 crore as of September 30, 2024.
ICICI Bank holds provisions totaling ₹812 crore against borrowers under resolution, in addition to contingency provisions of ₹13,100 crore as of the same date.
ICICI Bank’s robust financial performance in Q2FY25 reflects strong management and a healthy banking environment. With continued growth in both deposits and loans, the bank is well-positioned for future success.
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