ICICI Bank posted a strong set of numbers in Q3 FY25, driven by impressive credit and deposit growth. The net profit for the quarter rose by 15% year-on-year (YoY) to ₹11,792 crore, compared to ₹10,271 crore in Q3 FY24. Net interest income (NII) for the period grew 9% YoY to ₹20,370 crore from ₹18,678 crore, reflecting robust growth in the loan book and stable net interest margins.
The bank’s total advances stood at ₹13,14,366 crore as of December 31, 2024, marking a 13.9% YoY increase and 2.9% sequential growth. Net domestic advances grew by 15.1% YoY and 3.2% sequentially. Within this, the retail loan portfolio expanded by 10.5% YoY and 1.4% sequentially, accounting for 52.4% of the total loan book. The business banking portfolio recorded significant growth of 31.9% YoY and 6.4% sequentially, while the rural portfolio increased by 12.2% YoY and 0.9% sequentially. Additionally, the domestic corporate portfolio grew by 13.2% YoY and 4.3% sequentially, showcasing broad-based credit demand across segments.
Deposits also demonstrated strong growth during the quarter. Total period-end deposits increased by 14.1% YoY and 1.5% sequentially to ₹15,20,309 crore. Average deposits grew by 13.7% YoY and 2.1% sequentially to ₹14,58,489 crore. Current account deposits increased by 13.1% YoY and 4.5% sequentially, while savings account deposits grew by 12.3% YoY and 1.3% sequentially. The bank added 129 branches during the quarter, expanding its network to 6,742 branches and 16,277 ATMs and cash recycling machines as of December 31, 2024.
In terms of asset quality, ICICI Bank continued to show improvement. The gross non-performing assets (GNPA) ratio declined to 1.96% as of December 31, 2024, compared to 1.97% in the previous quarter and 2.30% in the same period last year. The net NPA ratio remained steady at 0.42% sequentially but improved from 0.47% in Q3 FY24. Gross NPA additions for Q3 FY25 were ₹6,085 crore, while net additions, excluding write-offs and sales, were ₹2,693 crore. The bank maintained a strong provisioning coverage ratio of 78.2%.
ICICI Bank’s performance in Q3 FY25 highlights its ability to achieve consistent growth across credit and deposits while improving asset quality and profitability. With strategic initiatives in place, the bank remains well-positioned to sustain its growth momentum in the coming quarters.
