ICICI Bank Q3: Lender Sees 15 Per Cent Jump In Net Profit While Asset Quality Takes A Hit
ICICI bank clocked a 15 per cent increase in the net profit at Rs 11,792.42 crore in Q3 of FY25, in comparison to Rs 10,271.54 crore logged in the corresponding quarter a year earlier.
ICICI Bank reported a jump in its net profit in the financial results for the October-December quarter in the 2024-25 fiscal year (FY25) on Saturday. The lender clocked a 15 per cent increase in the net profit at Rs 11,792.42 crore in the third quarter of the current fiscal year, in comparison to Rs 10,271.54 crore logged in the corresponding quarter a year earlier.
The net interest income of the lender jumped 9.1 per cent to Rs 20,370.6 crore in the quarter under review, while the same stood at Rs 18,678 crore in the quarter ended December 31, 2023. NII is a reflector of interest earned by the bank after measuring the difference between the interest borrowers pay to the bank and the interest paid by the bank to its depositors.
Issuing the results via an exchange release, the bank clocked a net interest margin of 4.25 per cent in Q3FY25, while the figure stood at 4.43 per cent in the October-December quarter in the 2023-24 financial year (FY24).
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ICICI Bank's Asset Quality
The asset quality of the bank took a major beating in the third quarter. The lender clocked a gross non-performing asset (NPA) ratio of 1.96 per cent in Q3FY25, in comparison to 2.30 per cent reported in the October-December quarter in the 2023-24 financial year (FY24). The net NPA ratio of the bank slipped slightly to 0.42 per cent in the quarter under review, against 0.44 per cent logged in the same period a year earlier. NPAs are loans or advances issued by the bank which are subject to late repayment or unlikely to be repaid by the borrower in full.
The lender reported a hike of 13.7 per cent in the average deposits on a year-on-year (YoY) basis in the December quarter, while the average savings account deposits of the bank rose 12.3 per cent on a YoY basis during the same period.
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