ICICI Bank Q2 profit falls over 50%, but asset quality improves; key figures in a nutshell

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Published: October 26, 2018 5:42:01 PM

ICICI Bank posted a profit during the July-September 2018 period as compared to a loss of Rs 120 crore reported in the first quarter of FY19.

ICICI Bank results, ICICI Bank share priceICICI Bank’s net profit fell sharply by over 50% during the second quarter ended September 2018.

ICICI Bank Q2 results: ICICI Bank’s net profit fell sharply by over 50% during the second quarter ended September 2018, even though the asset quality showed improvement during the period. The country’s largest private sector lender ICICI Bank on Friday reported a 55.84% fall in its net profit for the quarter under review to Rs 908.88 crore as against Rs 2,058.19 crore reported in the corresponding period of last year.

ICICI Bank posted a profit during the July-September 2018 period as compared to a loss of Rs 120 crore reported in the first quarter of the year. Asset quality of the bank improved during the quarter with the net non-performing assets (NPA) ratio slipping from 4.19% during the April-June quarter to 3.65% during the July-September quarter. Gross NPA additions decreased from Rs 4,036 crore during the first quarter of 2018 to Rs 3,117 crore in Q2FY19.

ICICI Bank share price closed lower by 1.45% at Rs 315.05 per share on the BSE. We take a look at all key figures in a nutshell:

ICICI BANK Q2 results: Key takeaways

  • The standalone profit after tax was Rs 909 crore in Q2-2019 compared to a loss of Rs 120 crore in Q1-2019 and a net profit of Rs 2,058 crore in Q2-2018.
  • Consolidated profit after tax of the bank was Rs 1,205 crore in Q2-2019 compared to Rs 5 crore in Q1-2019 and Rs 2,071 crore in Q2-2018.
  • Net interest income was at Rs 6,418 crore during the second quarter ended September 2018 compared to Rs 5,709 crore in the quarter ended September 30, 2017.
  • The core operating profit (profit before provisions and tax, excluding treasury income) grew by 10% year-on-year to Rs 5,285 crore in the quarter ended September 30, 2018 (Q2-2019).
  • Net NPA ratio decreased from 4.19% at June 30, 2018, to 3.65% at September 30, 2018. Gross NPA additions decreased from Rs 4,036 crore in the quarter ended June 30, 2018 (Q1-2019) to Rs 3,117 crore in Q2-2019.
  • Total capital adequacy ratio stood at 17.84% and Tier-1 capital adequacy ratio at 15.38% on a standalone basis at September 30, 2018.
  • Provisions were at Rs 3,994 crore in Q2-2019 compared to Rs 4,503 crore in Q2-2018.
  • Domestic loan growth at 16% year-on-year at September 30, 2018 driven by retail loans, which grew by 20% year-on-year. Retail loans constituted 57% of the total loan portfolio at September 30, 2018.
  • The bank reported a 15% year-on-year growth in current and savings account (CASA) deposits. The outstanding CASA ratio stood at 50.8% at September 30, 2018.

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