ICICI Bank Q3: Private Lender's Net Profit Rises 34 Per Cent To Rs 8,312 Crore
Private lender's core operating profit (profit before provisions and tax, excluding treasury income) grew by 31.6 per cent year-on-year to 13,235 crores in the quarter that ended December 31, 2022
ICICI Bank Ltd reported on Saturday that the bank's profit after tax grew by 34.2 per cent year-on-year to 8,312 crores in the quarter that ended on December 31. This was on the back 21.4 per cent rise in the domestic loan portfolio and a steady net interest margin.
Private lender's core operating profit (profit before provisions and tax, excluding treasury income) grew by 31.6 per cent year-on-year to 13,235 crores in the quarter that ended December 31, 2022.
The bank’s net interest income (NII) rose 34.6 per cent to Rs 16,465 crore for the December quarter, from Rs 12,236 crore in the corresponding quarter last year.
Bank’s total period-end deposits grew by 10.3 per cent year-on-year to 11,22,049 crore in Q3. The average current account and savings account (CASA) ratio was 44.6 per cent in the same period.
Overall loan portfolio grew by 19.7 per cent year-on-year while the domestic loan portfolio grew by 21.4 per cent year-on-year in Q3.
The net NPA ratio declined to 0.55 per cent on December 31, 2022, from 0.61 per cent on September 30, 2022, the bank said.
The provisioning coverage ratio on non-performing assets was 82.0 per cent on December 31, 2022, Including profits for the nine months ended December 31, 2022, the total capital adequacy ratio was 18.33 per cent and Tier-1 capital adequacy ratio was 17.58 per cent, on a standalone basis, on December 31, 2022.
The Board of Directors of ICICI Bank Limited at its meeting held in Mumbai on Saturday approved the standalone and consolidated accounts of the Bank for the quarter that ended December 31, 2022.
ICICI Bank opened about 300 branches in the first nine months of FY23 and had a network of 5,718 branches and 13,186 ATMs at December-end. The value of the bank’s merchant-acquiring transactions through UPI grew by 10.6 per cent month-on-month and 78 per cent year-on-year in Q3.
The Bank had a market share of 30.6 per cent by value in electronic toll collections through FASTag in Q3 of 2023, with a 22.2 per cent
year-on-year growth in collections.
ICICI bank said that its business banking and SME franchise continues to grow on the back of digital offerings and platforms like InstaBIZ along with the Bank’s extensive branch network.
Trending News
Top Headlines
