ICICI Bank Shares Zoom Over 3%: Announced Q2 FY25 Results

On October 26, 2024, ICICI Bank released its results for the quarter ended September 2024. ICICI Bank reported a standalone net profit of ₹11,745.88 crore for Q2 FY25, a 14.47% increase year-over-year, driven by a 17.24% rise in total income to ₹47,714.04 crore.

In the same quarter, profit before tax (PBT) reached ₹15,490.09 crore, reflecting a 13.51% annual growth. Net interest income (NII) grew 9.5% YoY to ₹20,048 crore, while the net interest margin (NIM) was 4.27%, down from 4.53% in Q2 FY24.

Provisions (excluding tax) surged to ₹1,233 crore in September 2024, compared to ₹583 crore in the previous year. Total period-end deposits rose 15.7% YoY to ₹14,97,761 crore, with term deposits increasing by 15.9% to ₹8,89,038 crore as of September 30, 2024. Net domestic advances grew 15.7%, while total advances rose 15% YoY to ₹12,77,240 crore. The retail loan portfolio expanded by 14.2% YoY, comprising 53% of the total loan portfolio. Including non-fund outstanding, the retail portfolio represented 44.9% of the total as of September 30, 2024.

Other Financial Highlights

In terms of asset quality, gross non-performing assets (NPAs) decreased to ₹27,121.15 crore from ₹29,836.94 crore a year earlier. The gross NPA ratio improved to 1.97% from 2.48%, while the net NPA ratio fell slightly to 0.42% from 0.43%. The provisioning coverage ratio (PCR) for NPAs stood at 79.7% as of June 30, 2024. The total capital adequacy ratio was 16.66%, and the CET-1 ratio was 15.96%, both exceeding the regulatory requirements of 11.70% and 8.20%, respectively.

Fee income grew 13.3% YoY to ₹5,894 crore in Q2 FY25, with retail, rural, business banking, and SME customers contributing approximately 78% of total fees. On a consolidated basis, net profit increased 18.83% to ₹12,947.77 crore, with total income rising 27.32% to ₹72,942.55 crore for Q2 FY25 compared to the same period last year. ICICI Bank is one of India’s leading private sector banks, operating a network of 6,613 branches and 16,120 ATMs as of September 30, 2024.

On October 28, 2024, ICICI Bank’s share price opened at ₹1,288.15 and touched the day high of ₹1,300.80 at 11:15 AM, reflecting a rise of ~3.41% from the previous close.

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