ICICI Bank Reports 14.6 Per Cent YoY Profit Growth In Q1FY25, NII Up 7.3 Per Cent

New Delhi: Private sector banking major, ICICI Bank has posted a net profit growth of 14.6 per cent year-on-year (YoY) in the first quarter of financial year 2025 (Q1FY25), reaching to Rs 11,059 crore.

The net interest income (NII) of the bank rose by 7.3 per cent YoY to Rs 19,553 crore, slightly above the estimated 7 per cent growth. In the same period last year, the bank reported an NII of Rs 18,226.5 crore.

The NII shows the difference between the revenue generated from a bank's interest-bearing assets and the expenses associated with paying its interest-bearing liabilities.

The bank's core operating profit increased by 11 per cent YoY, reaching Rs 15,412 crore in Q1FY25 from Rs 13,887 crore in Q1FY24. Provisions (excluding tax provisions) also rose by 3.1 per cent to Rs 1,332 crore, up from Rs 1,292 crore in the same period last year, the bank said in its financial statement.

According to the financials, the bank's net non-performing assets (NPAs) ratio experienced a slight increase to 0.43 per cent from 0.42 per cent in the previous quarter. It reported that the net NPAs for this quarter rose to Rs 5,684.8 crore from Rs 5,377.8 crore in Q4FY24.

Meanwhile, gross NPAs increased to Rs 28,718.6 crore during the quarter, up from Rs 27,961.7 crore in the March 2024 quarter. However, the gross NPA ratio decreased marginally to 2.15 per cent in Q1FY25 from 2.16 per cent in Q4FY24.

The bank said its total advances surged by 15.7 per cent YoY which amounts to Rs 12,23,154 crore as of June 30, 2024. The retail loan portfolio of the bank grew by 17.1 per cent year-on-year and 2.4 per cent sequentially, representing 54.4 per cent of the bank's total loan portfolio.

ICICI Bank's total period-end deposits increased by 15.1 per cent YoY, reaching Rs 14,26,150 crore. Its average deposits saw a 17.8 per cent YoY rise reaching to Rs 13,78,658 crore. bank's average current account deposits grew by 13.3 per cent YoY, while average savings account deposits rose by 8.2 per cent YoY.

The stocks of the banking major rose by 1.59 per cent or around 19 points on July 26. In the last six months, the bank's stock has seen a rise of over 200 points or 19.74 per cent.