ICICI Bank, a leading private sector bank in India, has reported a strong financial performance in the first quarter of the financial year 2025. The bank’s net profit grew by 14.6 per cent year-on-year to Rs 11,059 crore. The net interest income (NII) of the bank also increased by 7.3 per cent YoY to Rs 19,553 crore, beating estimates. The core operating profit of the bank rose by 11 per cent YoY to Rs 15,412 crore. Provisions excluding tax provisions increased by 3.1 per cent to Rs 1,332 crore.
In terms of asset quality, the bank’s net non-performing assets (NPAs) ratio saw a slight increase to 0.43 per cent from 0.42 per cent in the previous quarter. The bank reported an increase in both gross NPAs and net NPAs, with gross NPAs rising to Rs 28,718.6 crore. However, the gross NPA ratio decreased marginally to 2.15 per cent in Q1FY25. The bank’s total advances increased by 15.7 per cent YoY to Rs 12,23,154 crore, with the retail loan portfolio growing by 17.1 per cent year-on-year.
In terms of deposits, ICICI Bank saw a 15.1 per cent YoY increase in total period-end deposits to Rs 14,26,150 crore. The average deposits of the bank also saw a 17.8 per cent YoY rise to Rs 13,78,658 crore. The bank witnessed growth in both current account deposits (13.3 per cent YoY) and savings account deposits (8.2 per cent YoY). The stocks of ICICI Bank rose by 1.59 per cent on July 26, with a significant increase of over 200 points or 19.74 per cent in the last six months.
Overall, ICICI Bank’s strong financial performance in the first quarter of FY25 reflects positive growth in key financial metrics such as net profit, net interest income, and core operating profit. The bank has also shown resilience in maintaining a healthy asset quality despite a slight increase in NPAs. The growth in advances and deposits indicates a positive trend in the bank’s business operations. Investors have also shown confidence in the bank, as reflected in the rise in its stock price. With a robust start to the financial year, ICICI Bank is well-positioned to capitalize on opportunities and navigate challenges in the banking sector.
