Q1 FY25 results: Private sector lender ICICI Bank on Saturday announced its quarterly results for Q1 FY25. It reported that its net profit rose 14.6% to Rs 11,059.1 crore in the first quarter of fiscal year 2025 as compared to Rs Rs 9,648.2 crore reported in Q1 FY24, beating expectations of most brokerages. The bank's net interest income came in at Rs 19,552.9 crore, 7.3% up YoY and beating market expectations of Rs 19,515 crore.
The net interest margin was 4.36% in Q1 compared to 4.40% in Q4 of FY24 and 4.78% in Q1 of FY24.
On a standalone basis, the bank reported a 9.96 per cent increase in June quarter consolidated net profit at Rs 11,695.84 crore. The company had logged a profit of Rs 10,636.12 crore in the same period of 2023-24.
ICICI Bank's gross NPA ratio was 2.15% on June 30, 2024 compared to 2.16% on March 31, 2024. The net NPA ratio was 0.43% at June 30, 2024 compared to 0.42% at March 31, 2024. The gross NPA additions were Rs 5,916 crore in Q1 compared to Rs 5,139 crore on a sequential basis.
The bank said it has written off gross NPAs amounting to Rs 1,753 crore in Q1. The provisioning coverage ratio on NPAs was 79.7% at June-end.
Its total advances increased by 15.7% YoY and 3.3% sequentially to Rs 12,23,154 crore. The retail loan portfolio grew by 17.1% YoY and 2.4% sequentially, and comprised 54.4% of the total loan portfolio.
The business banking portfolio grew by 35.6% YoY and 8.9% quarter on quarter.
Its total capital adequacy ratio, including profits for Q1 FY2025, was 16.63 per cent and CET-1 ratio was 15.92 per cent, on a standalone basis, at June 30, 2024.
The bank’s total period-end deposits increased by 15.1 per cent year-on-year and 0.9 per cent sequentially to Rs 14,26,150 crore at June 30, 2024.
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