ICICI Bank, one of India’s biggest private lenders reported a robust 14.5 per cent year-on-year increase in standalone net profit for the second quarter of FY25, reaching Rs 11,746 crore, up from Rs 10,261 crore in the same quarter last year. This result surpassed Street expectations, as a Moneycontrol poll of brokerages had forecasted a profit of Rs 10,989 crore.
The private lender’s net interest income (NII) grew by 9.5 per cent to Rs 20,048 crore, though it fell slightly short of the Rs 20,845 crore anticipated by the Moneycontrol poll. The net interest margin (NIM) came in at 4.27 per cent, down from 4.36 per cent in the previous quarter and 4.53 per cent a year ago.
Non-interest income rose 10.8 per cent to Rs 6,496 crore, with fee income advancing 13.3 per cent to Rs 5,894 crore. This growth was primarily supported by contributions from retail, rural, and business banking sectors.
ICICI Bank‘s domestic loan portfolio expanded by 15.7 per cent year-on-year to Rs 12.43 lakh crore, while total deposits rose by the same percentage, reaching Rs 14.98 lakh crore. The bank maintained a steady average CASA ratio at 38.9 per cent.
Asset quality remained stable, with the gross non-performing asset (NPA) ratio improving to 1.97 per cent as of September 30, 2024, from 2.15 per cent at the end of June 2024. The net NPA ratio was nearly flat at 0.42 per cent compared to 0.43 per cent in the previous quarter, and the provisioning coverage ratio on non-performing loans stood at 78.5 per cent.
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Capital adequacy was strong, with a total ratio of 16.66 per cent, including profits for the first half of FY25, and a CET-1 ratio of 15.96 per cent. Treasury operations bolstered the results, yielding gains of Rs 680 crore, a sharp turnaround from a Rs 85 crore loss in the same period last year.
