ICICI Bank shares are in the spotlight today after the lender reported a solid set of numbers for the June quarter. Net Interest Income (NII) rose 10.6% year-on-year to ₹21,635 crore, beating CNBC-TV18 estimates of ₹20,923 crore.
Net profit stood at ₹12,768 crore, up 15.4% from the same quarter last year, and also above the expected ₹11,747 crore. Asset quality stayed stable, with gross NPA unchanged at 1.67%, while net NPA edged slightly higher to 0.41% from 0.39% in Q4.
However, provisions increased to ₹1,814 crore from ₹890 crore in the March quarter.
Loan growth remained healthy, with total advances rising 11.5% YoY and 1.7% sequentially to ₹13.64 lakh crore. Retail loans, which form 52.2% of the loan book, grew 6.9% YoY. Business banking loans surged nearly 30% YoY, while the rural loan book declined.
Deposits grew 12.8% YoY to ₹16.08 lakh crore, and average deposits rose 11.2%. The bank added 83 new branches during the quarter, expanding its network to 7,066 branches and over 13,000 ATMs.
The bank’s gross additions to NPAs stood at ₹6,245 crore, with net additions of ₹3,034 crore after recoveries and upgrades. It wrote off ₹2,359 crore in bad loans, and its provision coverage ratio stood at 75.3%.
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