summary of the performance review for ICICI Bank for the quarter ended September 30, 2024 (Q2-2025):
Varahimedia.com online news, October 27th, 2024:The bank reported robust growth across key financial metrics, demonstrating strong operational
Varahimedia.com online news, October 27th, 2024:The bank reported robust growth across key financial metrics, demonstrating strong operational performance and improved asset quality. The increase in both deposits and advances reflects healthy customer engagement and effective management strategies. The Board of Directors has approved the financial results, which have been reviewed and found satisfactory by statutory auditors. This performance review highlights ICICI Bank’s solid standing in the financial sector, emphasizing growth in profitability, asset quality, and capital adequacy.
Key Financial Highlights
- Profitability:
- Profit Before Tax (PBT): Increased by 7.9% year-on-year to ₹14,810 crore (US$ 1.8 billion).
- Core Operating Profit: Grew by 12.1% year-on-year to ₹16,043 crore (US$ 1.9 billion).
- Profit After Tax (PAT): Rose by 14.5% year-on-year to ₹11,746 crore (US$ 1.4 billion).
- Deposits and Advances:
- Total Deposits: Grew by 15.7% year-on-year to ₹14,97,761 crore (US$ 178.7 billion).
- Average Deposits: Increased by 15.6% year-on-year to ₹14,28,095 crore (US$ 170.4 billion).
- Domestic Loan Portfolio: Increased by 15.7% year-on-year to ₹12,43,090 crore (US$ 148.3 billion).
- Asset Quality:
- Net NPA Ratio: Improved slightly to 0.42% from 0.43% as of June 30, 2024.
- Provisioning Coverage Ratio: Remained at 78.5%.
- Capital Adequacy:
- Total Capital Adequacy Ratio: 16.66%, CET-1 ratio at 15.96%.
Performance Metrics
- Net Interest Income (NII): Increased by 9.5% year-on-year to ₹20,048 crore (US$ 2.4 billion).
- Net Interest Margin: 4.27%, down from 4.36% in Q1-2025 and 4.53% in Q2-2024.
- Non-Interest Income (excluding treasury): Increased by 10.8% to ₹6,496 crore (US$ 775 million).
- Fee Income: Grew by 13.3% to ₹5,894 crore (US$ 703 million).
Consolidated Results
- Consolidated Profit After Tax: Increased by 18.8% year-on-year to ₹12,948 crore (US$ 1.5 billion).
- Consolidated Assets: Grew by 18.4% year-on-year to ₹25,16,512 crore (US$ 300.3 billion).
Key Subsidiary Performance
- ICICI Prudential Life Insurance: Annualized premium equivalent increased to ₹4,467 crore (US$ 533 million).
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