ICICI Bank Q3 Results
ICICI Bank, India’s second-largest private sector lender, announced a 14.8% year-on-year (YoY) rise in standalone Q3 profit after tax, which rose to Rs 11,792 crore. During the December quarter, net interest income (NII) grew 9.1% to Rs 20,371 crore.
In Q3 FY25, net interest margin stood at 4.25%, slightly lower than 4.27% in Q2 FY25 and 4.43% in Q3 FY24. Net NPA ratio remained unchanged sequentially at 0.42%, while provision coverage ratio on non-performing loans stood at 78.2% at the end of December.
ICICI Bank Q3 Results – Deposit growth
ICICI Bank’s total period-end deposits grew 14.1% YoY and 1.5% sequentially to Rs 15,20,309 crore. During the quarter, average deposits grew 13.7% YoY and 2.1% sequentially to Rs 14,58,489 crore.
Average current account deposits grew 13.1% YoY and 4.5% sequentially, while average savings account deposits grew 12.3% YoY and 1.3% sequentially. The average current account to savings account (CASA) ratio stood at 39% in the third quarter.
ICICI Bank Q3 Results – Loan growth
Net domestic advances grew 15.1% YoY and 3.2% sequentially during the quarter. The retail loan portfolio grew 10.5% y-o-y and 1.4% sequentially, accounting for 52.4% of the total loan portfolio. The business banking portfolio grew significantly, growing 31.9% y-o-y and 6.4% sequentially.
ICICI Bank Q3 Results – Asset quality
The gross NPA ratio improved slightly to 1.96% in Q3 from 1.97% in Q2 FY25. Gross NPAs increased by Rs 6,085 crore in Q3 as against Rs 5,916 crore in Q1 and Rs 5,073 crore in Q2. ICICI Bank noted that the Kisan Credit Card portfolio typically sees higher NPA growth in Q1 and Q3. During the quarter, the bank wrote off Rs 2,011 crore in gross NPAs.
ICICI Bank Q3 Results – Capital adequacy
As of December-end, ICICI Bank’s total capital adequacy ratio stood at 16.60%, while the CET1 ratio was 15.93%, higher than the minimum regulatory requirements of 11.70% and 8.20%, respectively.
Also Read: Yes Bank Q3 Results
Pingback: CDSL Share Price | CDSL shares crashes 10% after reporting disappointing Q3 results