ICICI Bank gained 3.15% to Rs 1,295.05 after the private lender's standalone net profit increased 14.47% to Rs 11,745.88 crore on 17.24% rise in total income to Rs 47,714.04 crore in Q2 FY25 over Q2 FY24.
The banks profit before tax (PBT) stood at Rs 15,490.09 crore in second quarter of FY25, registering a growth of 13.51% YoY.Net interest income (NII) increased by 9.5% YoY to Rs 20,048 crore in during the quarter. Net interest margin (NIM) was 4.27% in Q2 FY25 as compared to 4.53% in Q2 FY24.
The bank's provisions (excluding provision for tax) zoomed to Rs 1,233 crore in September 2024 quarter as against Rs 583 crore registered in same period a year ago.
Total period-end deposits increased by 15.7% YoY to Rs 14,97,761 crore and period-end term deposits jumped 15.9% YoY to Rs 8,89,038 crore at 30 September 2024.
The net domestic advances grew by 15.7% YoY and total advances increased by 15% YoY to Rs 12,77,240 crore as at 30 September 2024.
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The retail loan portfolio grew by 14.2% YoY, and comprised 53% of the total loan portfolio at 30 September 2024. Including non-fund outstanding, the retail portfolio was 44.9% of the total portfolio at 30 September 2024.
On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 27,121.15 crore as on 30 September 2024 as against Rs 29,836.94 crore as on 30 September 2023.
The gross NPA ratio reduced to 1.97% as on 30 September 2024 as compared to 2.48% as on 30 September 2023. The net NPA ratio declined to 0.42% as on 30 September 2024 as against 0.43% as on 30 September 2023.
The provisioning coverage ratio (PCR) on non-performing assets was 79.7% at 30 June 2024.
The bank's total capital adequacy ratio at 30 September 2024 was 16.66% and CET-1 ratio was 15.96% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively.
The banks fee income grew by 13.3% YoY to Rs 5,894 crore in Q2 of FY25 from Rs 5,204 crore in Q2 of FY24. Fees from retail, rural, business banking and SME customers constituted about 78% of total fees in Q2 FY25.
On consolidated basis, the bank's net profit grew 18.83% to Rs 12,947.77 crore on 27.32% rise in total income to Rs 72,942.55 crore in Q2 FY25 over Q2 FY24.
ICICI Bank is a leading private sector bank in India. The bank has a network of 6,613 branches, 16,120 ATMs and cash recycling machines as at 30 September 2024.
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