ICICI Bank Reports 14.6% Net Profit Growth in Q1FY25

Strategic Insights -

The Indian private sector banking major, ICICI Bank, has announced a net profit growth of 14.6% year-on-year (YoY) in the first quarter of financial year 2025 (Q1FY25), with the net profit reaching Rs 11,059 crore. The bank's net interest income (NII) rose by 7.3% YoY to Rs 19,553 crore, driven by a surge in total advances, which increased by 15.7% YoY to Rs 12,23,154 crore. The bank's core operating profit increased by 11% YoY to Rs 15,412 crore, while provisions (excluding tax provisions) rose by 3.1% to Rs 1,332 crore.

Key Takeaways:

  • ICICI Bank reported a net profit growth of 14.6% YoY in Q1FY25, with the net profit reaching Rs 11,059 crore.
  • The bank's net interest income (NII) rose by 7.3% YoY to Rs 19,553 crore, with total advances increasing by 15.7% YoY to Rs 12,23,154 crore.
  • The bank's core operating profit increased by 11% YoY to Rs 15,412 crore, while provisions (excluding tax provisions) rose by 3.1% to Rs 1,332 crore.
  • The bank's retail loan portfolio grew by 17.1% year-on-year and 2.4% sequentially, representing 54.4% of the bank's total loan portfolio.
  • ICICI Bank's total period-end deposits increased by 15.1% YoY, reaching Rs 14,26,150 crore.
  • The bank's average deposits saw a 17.8% YoY rise, reaching Rs 13,78,658 crore.
  • The bank's average current account deposits grew by 13.3% YoY, while average savings account deposits rose by 8.2% YoY.

Statistics:

  • ICICI Bank's net profit grew by 14.6% YoY in Q1FY25, reaching Rs 11,059 crore.
  • The bank's net interest income (NII) rose by 7.3% YoY to Rs 19,553 crore.
  • The bank's total advances increased by 15.7% YoY to Rs 12,23,154 crore.
  • Provisions (excluding tax provisions) rose by 3.1% to Rs 1,332 crore.
  • The bank's retail loan portfolio grew by 17.1% year-on-year and 2.4% sequentially, representing 54.4% of the bank's total loan portfolio.
  • ICICI Bank's total period-end deposits increased by 15.1% YoY, reaching Rs 14,26,150 crore.
  • The bank's average deposits saw a 17.8% YoY rise, reaching Rs 13,78,658 crore.

Sources:

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