In the third quarter of FY25, ICICI Bank, the second largest private sector bank after HDFC Bank, disclosed a net profit of Rs 11,792 crore. This represents an increase of 15% over the same quarter of the previous year, where net profit was Rs 10,272 crore.
Additionally, the lender reported net interest income of Rs 20,370.6 crore, reflecting an increase of 9.1 per cent from Rs 18,678 crore in the previous year.
ANP
The net NPA (bad loans) ratio remained stable at 0.42% during the last quarter, while the provision coverage ratio for non-performing loans stood at 78.2% at the end of December.
In the third quarter of FY25, the gross NPA ratio showed a slight improvement at 1.96% compared to 1.97% in the second quarter. Gross NPA additions totaled Rs 6,085 crore in the third quarter, compared to Rs 5,916 crore in the first quarter and Rs 5,073 crore in the second quarter of FY25.
ICICI Bank noted that it generally experiences higher NPA additions in the Kisan credit card portfolio during the first and third quarters of the financial year.
During the quarter, the bank wrote off Rs 2,011 crore of gross NPAs.
Deposits
In the third quarter, ICICI Bank witnessed a 14.1% year-on-year increase and a 1.5% sequential increase in total period-end deposits, reaching Rs 15,20,309 crore. Average deposits also showed growth, with an increase of 13.7% year-on-year and a sequential increase of 2.1% to Rs 14,58,489 crore for the quarter.
Specifically, average current account deposits increased 13.1% year-on-year and 4.5% sequentially, while average savings account deposits increased 12.3% year-on-year and 1.3% sequentially. The average current-to-savings account (CASA) ratio stood at 39% in the third quarter.
Credit growth
Net domestic advances saw year-on-year growth of 15.1% and sequential growth of 3.2% during the quarter. The retail loan portfolio grew at an annual rate of 10.5% and a sequential growth of 1.4%, representing 52.4% of the total loan portfolio.
In contrast, the investment banking portfolio saw annual growth of 31.9% and sequential growth of 6.4%.
Shares of ICICI Bank closed at Rs 1,213.70 on Friday (January 24), up 0.99 per cent on the BSE.
