Mumbai, Jan 25: ICICI Bank, a private lender, reported a 14.8% year-on-year increase in standalone net profit for the October-December quarter (Q3) of the financial year 2024-25 (FY25), reaching Rs 11,792.42 crore.
This is up from Rs 10,271.54 crore in the same period of the previous financial year (FY24). The bank's net interest income (NII) rose by 9.1% year-on-year, totaling Rs 20,371 crore for the quarter, compared to Rs 18,678 crore a year earlier. However, the net interest margin stood at 4.25% in Q3 FY25, slightly down from 4.27% in Q2 FY25 and 4.43% in Q3 FY24.
As of December 31, 2024, ICICI Bank's gross non-performing assets (NPA) were Rs 27,745.33 crore, a decrease from Rs 28,774.63 crore a year earlier. The gross NPA ratio improved to 1.96% as of December 31, 2024, compared to 2.30% on the same date in 2023. The bank noted that higher NPA additions from the kisan credit card portfolio typically occur in the first and third quarters of the fiscal year.
In terms of growth, ICICI Bank’s total period-end deposits grew by 14.1% year-on-year and 1.5% sequentially, reaching Rs 15,20,309 crore by the end of December 2024. The bank also expanded its footprint, adding 129 branches in Q3 FY25, bringing its total to 6,742 branches and 16,277 ATMs & cash recycling machines as of December 31, 2024.
