ICICI Bank Q1 Results 2024: ICICI Bank on Friday notified the exchanges that its board will convene to review and authorise the unaudited financial results (both standalone and consolidated) for the quarter concluding on June 30, 2024 on Saturday, July 27. The timing of the ICICI Bank Q1 FY25 results is not known.
Last week, the combined market capitalisation (Mcap) of three top-10 most valued firms surged significantly by Rs 1,06,125.98 crore. Leading the gains were HDFC Bank and ICICI Bank, which emerged as the top performers in terms of Mcap growth.
The Mcap of ICICI Bank stood at Rs 8.46 lakh crore. On BSE, each share of the ICICI Bank was trading at Rs 1202.95, a decline of 3.24% as of 12.59 PM, while on NSE, it was trading at Rs 1200.60 per share.
ICICI Bank Q1 Results: Where to Watch?
To stay informed about ICICI Bank’s Q1 results, one has several avenues to monitor for updates and insights. Firstly, ICICI Bank typically releases its quarterly financial results through official channels such as their investor relations website and regulatory filings with stock exchanges like the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). These platforms provide detailed reports, presentations, and transcripts of earnings calls, offering a comprehensive view of the bank’s financial performance.
Financial news websites, including FinancialExpress.com will also cover ICICI Bank’s earnings announcements extensively. Moreover, ICICI Bank may conduct investor conference calls or webcasts post-results, allowing stakeholders to gain deeper insights into key metrics like net interest income, asset quality, and provisions.
ICICI Bank Q1 FY 25 Preview
Elara Capital analysts anticipate ICICI Bank to deliver another stable quarter, characterized by consistent loan growth, albeit with potentially softer deposit growth by the period-end. The bank’s focus on average CASA (Current Account Savings Account) balances is expected to yield robust results compared to industry norms.
They forecast a quarter-on-quarter (QoQ) decline of 4-5 basis points in Net Interest Margin (NIM), contributing to net interest income (NII) growth below 10% year-on-year (YoY). Operational expenses in Q1, influenced by bonuses and salary hikes, are likely to constrain pre-provision operating profit (PPoP) growth to under 10%.
Elara Capital also anticipates an increase in slippages QoQ, primarily driven by higher agricultural slippages. Coupled with a softer recovery environment, characterized by a shrinking pool and absence of corporate recoveries, this could marginally elevate QoQ credit costs for the bank.
ICICI Bank last quarter performance
ICICI Bank reported its Q4 FY24 results with a 17.4% rise in standalone net profit to Rs 10,707.5 crore from Rs 9,121.9 crore last year. Net interest income grew by 8% to Rs 19,092.8 crore compared to Rs17,666.8 crore YoY. The bank declared a dividend of Rs 10 per equity share. Non-interest income, excluding treasury performance, increased by 15.7% to Rs 5,930 crore. Provisions decreased sharply to Rs 718 crore. Core operating profit rose 10.5% YoY to Rs 15,320 crore in Q4 FY24 from Rs 13,866 crore previously.