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Informist, Saturday, Jul. 19, 2025

 

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--ICICI Bank Apr-Jun net profit INR 127.68 bln 
--Analysts saw ICICI Bank Apr-Jun net profit at INR 118.88 bln 
--ICICI Bank Apr-Jun net profit INR 127.68 bln vs INR 110.59 bln yr ago 
--ICICI Bank Apr-Jun total income INR 514.52 bln vs INR 459.98 bln yr ago 
--ICICI Bank Apr-Jun provisions INR 18.15 bln vs INR 13.32 bln year ago 
--ICICI Bank gross NPA ratio 1.67% as on Jun 30, unchanged from qtr ago 
--ICICI Bank net NPA ratio 0.41% as on Jun 30 vs 0.39% qtr ago 
--ICICI Bank Basel-III capital adequacy ratio 16.31% as on Jun 30 
--ICICI Bank: Hold contingency provision of INR 131 bln as on Jun 30 
--ICICI Bank provision coverage ratio 75.3% as on Jun 30 
--ICICI Bk Apr-Jun net interest income INR 216.4 bln vs INR 195.5 bln yr ago 
--ICICI Bank Apr-Jun net interest margin at 4.34% vs 4.41% quarter ago 
--ICICI Bk Apr-Jun recoveries, upgrades INR 32.11 bln vs INR 32.92 bln 
--ICICI Bk Apr-Jun gross NPA additions INR 62.45 bln vs INR 59.16 bln yr ago 
--ICICI Bank total deposits at INR 16.09 tln on Jun 30, up 12.8% on year 
--ICICI Bank total advances at INR 13.64 tln on Jun 30, up 11.5% on year 
--ICICI Pru board OKs sale of 100% stake in ICICI Pru Pension Funds Mgmt Co 
--ICICI Pru board OKs stake sale in ICICI Pru Pension Funds to ICICI Bank 
--ICICI Pru board OKs stake sale of ICICI Pru Pension Funds for INR 2.04 bln 
 

 

By Sourabh Kumar

 

MUMBAI – A robust rise in other income helped ICICI Bank Ltd. beat Street estimates in the June quarter, despite a rise in provisions. While the net profit of the private sector lender grew at a healthy pace on year due to a rise in other income, a surge in provisions ate into the sequential growth of net profit.

 

ICICI Bank posted a 15.5% on-year rise in net profit to INR 127.68 billion for the June quarter, on Saturday. This was primarily supported by a 22% increase in other income to INR 85.05 billion. The bank also saw a significant rise in income under the 'others' category of interest income, which surged over 200% on year to INR 9.24 billion in the June quarter, further boosting overall profitability. An average of estimates from 15 brokerages had indicated that ICICI Bank would report a net profit of INR 118.88 billion in the June quarter.

 

Sequentially, however, the lender's profit after tax rose merely 1.1%. This was due to a relatively lower on-quarter rise in other income and as provisions more than doubled from the previous quarter.

 

ICICI Bank's provisions more than doubled on quarter to INR 18.15 billion in Apr-Jun. However, provisions rose 36.2% on year. The bank continued to hold a contingency provision of INR 131 billion as of Jun. 30. Its provisions coverage ratio stood at 75.3%. 

 

The bank's Basel III capital adequacy ratio rose to 16.31% from last year's 15.96%. However, it fell from the previous quarter's 16.55%. Asset quality showed an on-year improvement. Sequentially, the bank's gross non-performing assets ratio remained unchanged at 1.67% in the June quarter, but it improved from 2.15% last year. The net non-performing assets ratio improved to 0.41% from 0.43% last year. However, it deteriorated from the previous quarter's 0.39%.

 

The bank's gross non-performing assets additions in the June quarter were INR 62.45 billion, higher than INR 59.16 billion in the year-ago period. Recoveries and upgrades of non-performing assets, excluding the write-offs and sale, stood at INR 32.11 billion, slightly down from INR 32.92 billion in the corresponding quarter last year. ICICI Bank wrote off INR 23.59 billion of non-performing assets in the June quarter. 

 

ICICI Bank reported a 10.6% on-year rise in net interest income to INR 216.35 billion for the June quarter. However, its net interest margin declined to 4.34%, compared to 4.41% in the previous quarter and 4.36% a year ago. The lender's non-interest income increased 13.7% on year to INR 72.64 billion and fee income grew 7.5% on year to INR 59.00 billion. Treasury gains nearly doubled to INR 12.41 billion from INR 6.13 billion in the same period last year. The bank's total income increased nearly 12% on yer to INR 514.52 billion. Sequentially, it rose just 3.5%.

 

As of Jun. 30, total deposits grew 12.8% on year to INR 16.09 trillion, while total advances rose 11.5% to INR 13.64 trillion. The current account savings account ratio stood at 41.2% as of Jun. 30.

 

The bank's cost of deposits fell to 4.85% in the June quarter, down from 5.00% in the previous quarter and largely flat compared to 4.84% a year ago. The cost of funds also eased to 5.02%, from 5.18% in the March quarter and 5.05% in the year-ago period. The bank's cost-to-income ratio was 37.8%, compared to 39.7% last year. The yield on advances declined to 9.53% in Apr-Jun, from 9.86% in the previous quarter.

 

Of the total loan portfolio, advances to business banking rose the sharpest in the reporting quarter, by nearly 30% to INR 2.73 trillion as of Jun. 30. Retail loans, which constitute a majority of the bank's loan portfolio, gained nearly 7% on year to INR 7.21 trillion, as of Jun. 30. Retail loans constituted 52.2% of the bank's total loans. Rural loans fell slightly by 0.4% on year to INR 771.51 billion as of Jun. 30. Loans to domestic corporate and others category increased to 7.5% on year to INR 2.76 trillion as of Jun. 30. 

 

The bank's credit card portfolio increased marginally, 1.5% on year, to INR 542.55 billion as of Jun. 30. Personal loans segment also grew 1.4% on year to INR 1.2 trillion.

 

Further, the bank's board approved the acquisition of ICICI Prudential Pension Funds Management Co. Ltd. for INR 2.04 billion. On Friday, shares of ICICI Bank closed 0.5% higher at INR 1,425.80 on the National Stock Exchange.  End

 

Edited by Subhojit Sarkar

 

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