ICICI Bank Q3 FY25: Net profit rises 15%, NII increases 9.1%

In Q3 FY25, ICICI Bank, the second-largest private sector bank after HDFC Bank, disclosed a net profit of Rs 11,792 crore. This represents an increase of 15% compared to the same quarter in the previous year when net profit stood at Rs 10,272 crore.

Additionally, the lender reported net interest income of Rs 20,370.6 crore, reflecting an increase of 9.1% from Rs 18,678 crore in the previous year.

NPA

The net NPA (bad loans) ratio remained steady at 0.42% in the latest quarter, while the NPA (bad loans) coverage ratio stood at 78.2% as of the end of December.

In Q3 of FY25, the overall NPA ratio showed slight improvement to 1.96% from 1.97% in Q2. Total NPA additions stood at Rs 6,085 crore in Q3, compared to Rs 5,916 crore in Q1 and Rs 5,073 crore in Q2 FY25.

ICICI Bank noted that it typically experiences higher NPA additions from its Kisan credit card portfolio in the first and third quarters of the financial year.

During the quarter, the bank wrote off Rs 2,011 lakh crore of gross NPAs.

Deposits

In Q3, ICICI Bank witnessed a 14.1% YoY increase and 1.5% sequential increase in total deposits at the end of the period, standing at Rs 15,20,309 crore. Average deposits also showed growth, with an increase of 13.7% year-on-year and a sequential increase of 2.1% to Rs 14,58,489 crore for the quarter.

Specifically, average checking account deposits were up 13.1% year over year and 4.5% sequentially, while average savings account deposits were up 12.3% year over year and 1.3% sequentially. The average checking and savings account (CASA) ratio was 39% during the third quarter.

Credit growth

Net domestic progress saw year-on-year growth of 15.1% and sequential growth of 3.2% during the quarter. The retail loan portfolio witnessed year-on-year growth of 10.5% and sequential growth of 1.4%, constituting 52.4% of the total loan portfolio.

On the other hand, the commercial banking portfolio witnessed year-on-year growth of 31.9% and sequential growth of 6.4%.

ICICI Bank shares closed at Rs 1,213.70 on Friday (January 24), up 0.99% in the BSE position.