ICICI Bank has reported a solid performance for the third quarter of the financial year 2024-25, with a 15% increase in net profit and a 12.5% growth in Net Interest Income (NII). The bank’s net profit reached ₹11,792.42 crore for the October-December quarter, up from ₹10,271.54 crore in the same period last year. This strong performance has helped lift the bank’s stock, which closed 0.58% higher on the Bombay Stock Exchange (BSE) at ₹1,209.45.
Highlights of ICICI Bank’s Q3 Performance:
- Net Profit: ₹11,792.42 crore, a 15% YoY increase.
- Net Interest Income (NII): ₹41,299.82 crore, up 12.5% YoY.
- Digital Banking Revenues: Increased by 23% YoY to ₹10,194 crore.
- Treasury Revenues: Rose by 15.5% YoY to ₹34,047 crore.
- Retail Banking Revenues: Surged by 16% YoY to ₹39,438 crore.
- Gross NPA: Decreased to 1.96%, compared to 2.30% last year.
- Net NPA: Fell to 0.42%, down from 0.44% in Q3 FY2024.
- Provisions: Increased by nearly 17% YoY to ₹1,226.65 crore.
Despite some anticipated pressure on net interest margins (NIM) due to potential interest rate cuts, ICICI Bank’s performance remains healthy, supported by strong loan growth, robust asset quality, and a solid order book.
Abhishek Pandya, Research Analyst at StoxBox, highlighted that the bank’s digital banking and retail banking segments are showing impressive growth, and the NPA ratios have stabilized. The bank’s recent launch of the DigiEase platform is expected to further streamline its business banking processes and enhance operational efficiency.
ICICI Bank’s stock performance has been solid over the past year, with a 20.17% increase in its share price. However, it has seen a slight decline of 6.45% in the last month, but with steady growth in the longer term.
The Road Ahead
With strong fundamentals and a diversified portfolio, ICICI Bank is well-positioned for continued growth in the coming quarters. Investors can expect stable returns, with a focus on digital transformation and a strong asset quality management strategy.
