ICICI Bank’s Board of Directors has approved the unaudited financial results for Q2 FY25, showcasing strong financial performance. The bank reported an operating profit of ₹16,723 crore for the quarter ending September 30, 2024, up from ₹16,024 crore in the previous quarter. Total income for Q2 FY25 reached ₹47,714 crore, with interest earned amounting to ₹40,537 crore.
For the half-year ended September 30, 2024, ICICI Bank posted a net profit of ₹22,804 crore, reflecting its steady growth trajectory. The bank’s provisions for the quarter stood at ₹1,233 crore, with a tax expense of ₹3,744 crore.
In addition to the financial results, the Board approved the inclusion of Mr. Vipul Agarwal as part of the senior management team, further strengthening the leadership of ICICI Bank as it continues its expansion.
The core operating profit also grew by 12.1% YoY to ₹16,043 crore during the quarter, reflecting the bank’s robust financial performance. Excluding dividend income from subsidiaries, the core operating profit grew by 13.4% YoY.
Key Highlights for Q2 FY25:
- Total period-end deposits grew by 15.7% YoY, reaching ₹14,97,761 crore at the end of September 2024.
- Average deposits increased by 15.6% YoY, standing at ₹14,28,095 crore. The average CASA ratio was 38.9%.
- Domestic loan portfolio saw a 15.7% YoY growth, amounting to ₹12,43,090 crore, with the retail loan portfolio comprising 53% of the total loans.
- Net NPA ratio improved slightly to 0.42% from 0.43% in the previous quarter, indicating strong asset quality.
- Provisioning coverage ratio (PCR) on non-performing loans stood at 78.5%.
ICICI Bank’s total capital adequacy ratio was 16.66% as of September 30, 2024, with a CET-1 ratio of 15.96%, maintaining a healthy capital buffer.
The bank also saw significant growth in business banking, with the portfolio expanding by 30% YoY, while retail and rural portfolios grew steadily. This solid performance underscores ICICI Bank’s continued focus on credit growth and operational efficiency.
Asset Quality:
- Gross NPA Ratio: 1.97%, down from 2.15% QoQ
- Net NPA Ratio: 0.42%, down from 0.43% QoQ
Capital Adequacy:
- Total Capital Adequacy Ratio: 16.66%
- CET-1 Ratio: 15.96%
Key Ratios:
- Net Interest Margin: 4.27%
- Provisioning Coverage Ratio: 78.5%
Branch Network:
- Total Branches: 6,613 with 16,120 ATMs as of September 30, 2024
Management Update:
- Mr. Vipul Agarwal appointed as senior management personnel.
Note: All figures are as of September 30, 2024, and are unaudited.
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