ICICI Bank has announced a significant equity infusion of \u20b9500 crore into its home finance subsidiary, ICICI Home Finance, during the first quarter of fiscal year 2025. This investment is part of the bank\u2019s ongoing strategy to bolster its subsidiary\u2019s capital base. ICICI Bank\u2019s Executive Director, Sandeep Batra, revealed this in a media call following the bank\u2019s quarterly results.<\/p>\n
For the first quarter of FY25, ICICI Home Finance reported a net profit of \u20b9117 crore, highlighting strong performance in the home finance sector. The company\u2019s advances for the quarter increased to \u20b923,700 crore from \u20b922,520 crore, marking a notable rise. Additionally, the capital adequacy ratio improved to 22.2% from 19.9% in the previous quarter.<\/p>\n
On the asset quality front, the subsidiary\u2019s stage-3 gross impaired loans rose to \u20b9405 crore from \u20b9391 crore, while stage-3 net impaired loans increased to \u20b9248 crore from \u20b9239 crore.<\/p>\n
In parallel, ICICI Bank reported a net profit of \u20b911,059.1 crore for Q1 FY25, representing a 14.6% increase from the \u20b99,648.2 crore recorded in the same period last year. This figure surpassed the average estimate of \u20b910,614 crore by seven brokerages. The bank\u2019s net interest income rose by 7.3% year-on-year to \u20b919,552.9 crore, exceeding the expected \u20b919,515 crore.<\/p>\n
The gross non-performing asset (NPA) ratio stood at 2.15%, while the net NPA ratio was 0.43%, slightly up from 0.42% last year.<\/p>\n
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