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ICICI Bank Q1 PAT rises 15% YoY to Rs 11,059 cr

27-Jul-24 15:38 Hrs IST

The bank's profit before tax (PBT) stood at Rs 14,692.66 crore in Q1 FY25, registering a growth of 14.36% YoY.

Net interest income (NII) increased by 7.27% year on year (YoY) to Rs 19,553 crore in during the quarter. Net interest margin (NIM) was 4.36% in Q1 FY24 as compared to 4.78% in Q1 FY24.

The bank's provisions (excluding provision for tax) increased 3.09% YoY to Rs 1,332.18 crore during the period under review.

Total period-end deposits increased by 15.1% YoY to Rs 14,26,150 crore at 30 June 2024. Period-end term deposits jumped 19.9% YoY to Rs 8,42,479 crore at 30 June 2024.

The net domestic advances grew by 15.9% YoY and total advances increased by 15.7% YoY to Rs 12,23,154 crore as at 30 June 2024.

The retail loan portfolio grew by 17.1% YoY, and comprised 54.4% of the total loan portfolio at 30 June 2024. Including non-fund outstanding, the retail portfolio was 46.3% of the total portfolio at 30 June 2024.

On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 28,718.63 crore as on 30 June 2024 as against Rs 31,822.39 crore as on 30 June 2023.

The gross NPA ratio reduced to 2.15% as on 30 June 2024 as compared to 2.76% as on 30 June 2023. The net NPA ratio declined to 0.43% as on 30 June 2024 as against 0.48% as on 30 June 2023.

The provisioning coverage ratio (PCR) on non-performing assets was 79.7% at 30 June 2024.

The bank's total capital adequacy ratio at 30 June 2024 was 16.63% and CET-1 ratio was 15.92% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively.

The bank's fee income grew by 13.4% year-on-year to Rs 5,490 crore in Q1 FY25 from Rs 4,843 crore in Q1 FY24. Fees from retail, rural, business banking and SME customers constituted about 78% of total fees in Q1 FY25.

The Bank had a market share of about 32.1% by value in electronic toll collections through FASTag in Q1-2025, with a 16.9% yearon-year growth in collections in Q1-FY2025.

On consolidated basis, the bank's net profit increased 9.96% to Rs 11,695.84 crore on 29.15% rise in total income to Rs 67,270.06 crore in Q1 FY25 over Q1 FY24.

ICICI Bank is a leading private sector bank in India. The bank had a network of 6,587 branches, 17,102 ATMs and cash recycling machines at 30 June 2024.

The scrip rose 0.81% to end at Rs 1,207.70 on Friday, 26 July 2024.