ICICI Bank reports 14.8% rise in Q3 net profit to Rs 11,792 cr
Mumbai: Private sector lender ICICI Bank posted a net profit of Rs 11,792 crore for the third quarter of FY25, marking a 14.8% year-on-year increase, driven by strong core operating performance and steady loan growth.
Profit before tax, excluding treasury, grew by 12.8% year-on-year to Rs 15,289 crore, while core operating profit saw a 13.1% rise to Rs 16,516 crore.
Excluding dividend income from subsidiaries, core operating profit recorded a higher growth of 14.7%.
The bank's net interest income (NII) for the quarter increased by 9.1% year-on-year to Rs 20,371 crore, with a net interest margin of 4.25%.
Non-interest income, excluding treasury gains, grew by 12.1% to Rs 6,697 crore, with fee income contributing Rs 6,180 crore, a 16.3% increase.
Treasury gains stood at Rs 371 crore compared to Rs 123 crore in the same quarter last year.
On the asset quality front, the gross non-performing asset (NPA) ratio was 1.96%, slightly down from 1.97% in the previous quarter.
The net NPA ratio remained steady at 0.42%.
The provisioning coverage ratio on non-performing loans was 78.2%.
The domestic loan portfolio expanded by 15.1% year-on-year to Rs 12,82,778 crore as of December 31, 2024.
Retail loans accounted for 52.4% of the total portfolio, with rural and business banking portfolios growing by 12.2% and 31.9%, respectively.
Total advances grew by 13.9% year-on-year to Rs 13,14,366 crore.
Total deposits increased by 14.1% to Rs 15,20,309 crore, while average deposits rose by 13.7% to Rs 14,58,489 crore.
The average current account and savings account (CASA) ratio was 39.0%.
The bank continued its digital transformation with initiatives like DigiEase, streamlining customer onboarding for business banking, and upgrades to its retail lending platform, iLens.
ICICI Bank's capital adequacy ratio, including profits for the nine months ended December 31, 2024, stood at 16.60%, with a CET-1 ratio of 15.93%, well above regulatory requirements.
Consolidated profit after tax grew by 16.6% year-on-year to Rs 12,883 crore, with consolidated assets increasing by 14.7% to Rs 25,31,488 crore.
Subsidiaries like ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities also reported robust growth during the quarter.
The board of directors approved the standalone and consolidated results, with the statutory auditors issuing an unmodified report.
The bank reaffirmed its commitment to leveraging technology and operational efficiencies to enhance customer experiences and drive sustainable growth.
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