ICICI Bank Reports 15% Yearly Profit Surge to Rs 11,792 Crore in Q3

Synopsis

ICICI Bank has reported a 15% increase in net profit for Q3 FY25, reaching Rs 11,792 crore. The bank's net interest income also saw a growth of 9.1%. Additionally, the bank maintained stable asset quality with a slight improvement in NPA ratios.

Key Takeaways

15% YoY growth in net profit to Rs 11,792 crore
Net interest income rose by 9.1% to Rs 20,371 crore
Net interest margin at 4.25%
Stable asset quality with 1.96% NPA ratio
Reappointments of Sandeep Batra and Rakesh Jha

Mumbai, Jan 25 (NationPress) ICICI Bank, recognized as India's second-largest private sector lender, disclosed a remarkable 15% year-on-year (YoY) increase in net profit for the December quarter of FY25, reaching Rs 11,792 crore, up from Rs 10,272 crore in the same timeframe last year.

The bank's net interest income (NII), representing the difference between interest earned and interest paid, saw a 9.1% YoY rise to Rs 20,371 crore from Rs 18,678 crore in Q3 FY24, as per its filing.

ICICI Bank's net interest margin (NIM), a crucial profitability indicator, was reported at 4.25% in Q3 FY25, which is slightly down from 4.43% a year prior and 4.27% in the preceding quarter.

As per its filing with the stock exchange, the bank's asset quality remained stable, with the gross non-performing assets (NPA) ratio improving marginally to 1.96% from 1.97% in the September quarter. The net NPA ratio stayed constant at 0.42%.

Moreover, ICICI Bank has confirmed the reappointment of Sandeep Batra as Executive Director for a term extending until December 22, 2027. The bank also reappointed Rakesh Jha as Executive Director, with his term running from September 2, 2025, to September 1, 2027.

The bank's provisions and contingencies, which are allocated for potential bad loans, rose by 17% YoY to Rs 1,227 crore from Rs 1,049 crore in Q3 FY24.

The increased NPA additions during the third quarter are typically attributed to the Kisan Credit Card portfolio, a credit scheme designed for farmers. The bank's provision coverage ratio for non-performing loans was documented at 78.2% as of December 2024.

ICICI Bank's stock closed at Rs 1,209.45 on Friday, witnessing a 0.58% increase on the Bombay Stock Exchange (BSE).