ICICI Bank Ltd on Saturday announced its third quarter results for the financial year 2024-25 with standalone profit at Rs 11,792.42 crore, posting a growth of 14.81 per cent in comparison to Rs 10,271.54 crore during the corresponding quarter of previous fiscal year, surpassing estimates. The Net Interest Income (NII) for the quarter stood at Rs 20,370.6 crore and the Net Interest Margin (NIM) was 4.25 per cent in Q3FY25 compared to 4.43 per cent in Q3FY24. The Bank recorded total income during the quarter in review at Rs 48,367.87 crore, up 13.03 per cent as against Rs 42,791.64 crore during the same quarter of FY24.
According to a CNBC TV18 poll, ICICI Bank was expected to record Q3 profit at Rs 11,332.7 crore and NII was estimated at Rs 20,461.4 crore.
On a consolidated basis, ICICI Bank posted Q3 profit at Rs 12,883.37 crore, up 16.56 per cent as against Rs 11,052.60 crore during the third quarter of previous fiscal. Consolidated assets grew by 14.7 per cent year-on-year to Rs 25,31,488 crore as at December 31, 2024.
Asset quality
ICICI Bank posted a gross NPA ratio at 1.96 per cent during Q3 compared to 2.30 per cent during the same period of previous year. The net NPA ratio was 0.42 per cent as at December 31, 2024 compared to 0.44 per cent during the year-ago period.
Recoveries and upgrades of NPAs, excluding writeoffs and sale, were Rs 3,392 crore in Q3FY25. The net additions to gross NPAs, excluding write-offs and sale, were Rs 2,693 crore. The Bank has written off gross NPAs amounting to Rs 2,011 crore in Q3FY25.
Credit growth
The net domestic advances grew by 15.1 per cent YoY. The retail loan portfolio grew by 10.5 per cent year-on-year, and comprised 52.4 per cent of the total loan portfolio at December 31, 2024. Including non-fund outstanding, the retail portfolio was 43.9 per cent of the total portfolio at December 31, 2024. The business banking portfolio grew by 31.9 per cent year-on-year. The rural portfolio grew by 12.2 per cent year-on-year. The domestic corporate portfolio grew by 13.2 per cent year-on-year. Total advances increased by 13.9 per cent year-on-year.
Deposit growth
ICICI Bank posted total period-end deposits growth of 14.1 per cent year-on-year to Rs 15,20,309 crore. Average deposits increased by 13.7 per cent year-on-year to Rs 14,58,489 crore. Average current account deposits increased by 13.1 per cent year-on-year. Average savings account deposits increased by 12.3 per cent year-on-year.
Network and branches
With the addition of 129 branches during Q3FY25, ICICI Bank had a network of 6,742 branches and 16,277 ATMs & cash recycling machines as on December 31, 2024.