ICICI Bank Q1 FY25 reports Net profit rose 14.6%

ICICI Bank Q1 FY25 reports Net profit rose 14.6% and 64 new branches started

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ICICI Bank Q1 FY25 results showcased a strong performance with a significant rise in net profit, primarily fueled by growth in advances and deposits. The bank’s Net Profit increased by 14.6% year-on-year (YoY) to ₹11,059 crore and the Net Interest Income (NII) rose by 7.3% YoY to ₹19,553 crore.

The most important network expansion and customer-oriented decision of the ICICI Bank was the opening of 64 new branches during this quarter.

The bank’s strong performance in the first quarter was driven by growth in both advances and deposits. The retail loan portfolio grew by 17.1% YoY and constituted 54.4% of the total loan portfolio. The bank’s asset quality improved, with the gross non-performing assets (NPA) ratio declining to 3.19% from 3.60% in the previous year. The capital adequacy ratio remained strong at 16.63% and the average deposit growth was 17.8% YoY.

ICICI Bank Q1 FY25 Results Summary:

Financial Performance: 

  • Profit before tax (excluding treasury): Grew by 11.8% year-on-year to ₹14,080 crore (US$1.7 billion).
  • Core operating profit: Grew by 11.0% year-on-year to ₹15,412 crore (US$1.8 billion).
  • Profit after tax: Increased by 14.6% year-on-year to ₹11,059 crore (US$1.3 billion).
  • Net interest income (NII): Increased by 7.3% YoY to ₹19,553 crore.

Deposits:

  • Total period-end deposits: Grew by 15.1% year-on-year to ₹14,26,150 crore (US$171.0 billion) at June 30, 2024.
  • Average deposits: Grew by 17.8% year-on-year to ₹13,78,658 crore (US$165.3 billion) at June 30, 2024.
  • Average current account and savings account (CASA) ratio: 39.6% in Q1-2025.

Loans:

  • Domestic loan portfolio: Increased by 15.9% year-on-year to ₹11,88,587 crore (US$142.5 billion) at June 30, 2024.
  • Retail loan portfolio: Constituted 54.4% of the total loan portfolio.

Asset Quality:

  • Net NPA ratio: 0.43% at June 30, 2024 (compared to 0.42% at March 31, 2024).
  • Provisioning coverage ratio on non-performing assets: 79.7% at June 30, 2024.

Capital Adequacy:

  • Total capital adequacy ratio: 16.63% at June 30, 2024 (including profits for Q1-2025).
  • CET-1 ratio: 15.92% at June 30, 2024 (including profits for Q1-2025).

Overall, ICICI Bank’s Q1 results indicate a healthy financial performance with robust growth in key areas and improved asset quality. This positive momentum is expected to continue in the coming quarters.

 

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