ICICI Bank Q3 Results: Net Profit Jumps 15% To Rs 11,792 Crore, NII Up 9.1%
ICICI Bank Q3 Results: Its net interest margin declines to 4.25 per cent from 4.43 per cent a year earlier and from 4.27 per cent in the previous quarter.
ICICI Bank, the country’s second largest private sector bank, on Saturday reported a 15 per cent rise in its net profit to Rs 11,792 crore for the third quarter ended December 31, 2024. The net interest income — interest earned minus interest expended — stood at Rs 20,370.6 crore, higher than 9.1 per cent as compared with Rs 18,678 crore last year.
Its net profit had stood at Rs 10,272 crore in the corresponding quarter last year.
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ICICI Bank’s net interest margin declined to 4.25 per cent from 4.43 per cent a year earlier and from 4.27 per cent in the previous quarter.
Total income increased to Rs 48,368 crore from Rs 42,792 crore in the same period a year ago, ICICI Bank said in a regulatory filing.
Interest income increased to Rs 41,300 crore during the quarter under review as compared to Rs 36,695 crore in the year-ago period.
On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96 per cent as against 2.3 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.42 per cent from 0.44 per cent at the end of the third quarter last fiscal year.
However, the overall provisions, excluding tax increased to Rs 1,227 crore during the quarter from Rs 1,049 crore a year ago.
Provision coverage ratio on non-performing loans was 78.2 per cent as on December 31, 2024.
Capital Adequacy Ratio rose to 14.71 per cent from 14.61 per cent at the end of the third quarter of the previous financial year.
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