ICICI Bank Ltd.'s profit rose in the first quarter of fiscal 2025, meeting analyst estimates.
The private sector lender's standalone net profit rose 14.6% year-on-year to Rs 11,059 crore in the quarter-ended June, according to an exchange filing on Saturday. Analysts polled by Bloomberg had estimated a net profit of Rs 10,739.4 crore.
ICICI Bank Q1FY25 Results Highlights (Standalone)
Net profit up 14.6% to Rs 11,059 crore vs Rs 9,648 crore (YoY)
Net interest income up 7.3% to Rs 19,552.9 crore vs Rs 18,226.5 crore (YoY)
Gross NPA at 2.15% vs 2.16% (QoQ)
NNPA at 0.43% vs 0.42% (QoQ)
Net interest margin as of June 30 stood at 4.36%, down 4 basis points quarter-on-quarter.
Gross NPA additions were Rs 5,916 crore in Q1, higher by 15% quarter-on-quarter. Recoveries and upgrades of NPAs, excluding write-offs and sale, were Rs 3,292 crore. Net addition to NPAs doubled sequentially to Rs 2,624 crore.
Total advances increased by 15.7% year-on-year to Rs 12.23 lakh crore. Domestic loan portfolio grew by 15.9% year-on-year to Rs 11.88 lakh crore. The retail loan portfolio grew by 17.1% year-on-year and 2.4% sequentially, and comprised 54.4% of the total loan portfolio. The domestic corporate portfolio grew by 10.3% from last year. The business banking portfolio grew by 35.6%, while the rural portfolio grew by 16.9% from a year ago.
Total period-end deposits increased by 15.1% year-on-year to Rs 14.26 lakh crore. Average deposits increased by 17.8% year-on-year to ₹ 13.78 lakh crore.
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