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Informist, Saturday, Jan. 25, 2025

 

 

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--ICICI Bank Oct-Dec net profit INR 117.92 bln vs INR 102.72 bln yr ago 
--Analysts saw ICICI Bank Oct-Dec net profit INR 114.61 bln 
--ICICI Bank Oct-Dec total income INR 483.68 bln vs INR 427.92 bln year ago 
--ICICI Bank Oct-Dec provisions INR 12.27 bln vs INR 10.49 bln year ago 
--ICICI Bank Apr-Dec net profit INR 345.97 bln vs INR 301.81 bln yr ago 
--ICICI Bank Apr-Dec total income INR 1.42 tln vs INR 1.22 tln yr ago 
--ICICI Bank gross NPA ratio 1.96% as on Dec 31 vs 1.97% qtr ago 
--ICICI Bank net NPA ratio 0.42% as on Dec 31, flat vs qtr ago 
--ICICI Bank Basel-III capital adequacy ratio 14.71% as on Dec 31 
--ICICI Bank: Hold contingency provision of INR 131.00 bln as on Dec 31 
--ICICI Bank board OKs re-appointment of Rakesh Jha as ED till Sept 2027 
--ICICI Bank board OKs re-appointment of Sandeep Batra as ED till Dec 2027 
--ICICI Bank provision coverage ratio 78.2% as on Dec 31 
--ICICI Bank Oct-Dec net interest income INR 203.71 bln, up 9.1% on yr 
--ICICI Bank total advances at INR 13.14 tln Dec 31, up 13.9% YoY 
--ICICI Bank total deposits at INR 15.20 tln Dec 31, up 14.1% YoY

 

By Kshipra Petkar

 

MUMBAI – ICICI Bank's net profit for the quarter ended December rose 14.8% on year to INR 117.9 billion, beating the Street's view. Analysts saw the bank's Oct-Dec net profit at INR 114.6 billion. On a sequential basis, the bottom line was almost flat. Rise in provisions and expenses limited the growth of the bottom line for the quarter.

 

Provisions of the bank rose 16.9% on year to 12.27 billion during the quarter. The bank said it continued to hold contingency provisions of INR 131.00 billion as on Dec 31. Sequentially, the provisions fell marginally by 0.5%. The asset quality of the bank improved marginally in Oct-Dec. The gross non-performing assets ratio fell to 1.96% from 1.97% a quarter ago and the net NPA ratio remained unchanged from a quarter ago at 0.42%.

 

"The Bank typically witnesses higher NPA additions from the kisan credit card portfolio in the first and third quarter of a fiscal year," the bank said in its press release. Out of INR 53.04 billion of gross slippages from the retail and rural book reported in Oct-Dec, INR 7.14 billion were from the kisan credit card portfolio. 

 

Recoveries and upgrades, excluding write-offs and sale, stood at INR 33.92 billion in Oct-Dec compared to INR 33.19 billion in Jul-Sept. The net additions to gross NPAs in the reporting quarter were INR 26.93 billion, sharply higher than INR 17.54 billion in the previous quarter. The bank wrote off gross non-performing assets amounting to INR 20.11 billion during the quarter.

 

Total expenditure of the bank increased 12.2% on year and 1.6% on quarter to INR 314.81 billion in Oct-Dec, mainly due to rise in interest expended. The interest expended rose 16.2% on year to INR 209.3 billion during the quarter.

 

The net interest income of the bank rose 9.1% on year in Oct-Dec to INR 203.71 billion, lower than analysts' estimate of INR 206.20 billion. Total income of the bank rose by 13.03% on year to INR 483.68 billion. Sequentially, the total income rose merely 1.4%. Within total income, other income grew 15.9% on year to INR 70.7 billion but fell by 1.5% on quarter.

 

The net interest margin of the bank moderated to 4.25% in Oct-Dec compared to 4.27% in Jul-Sept and 4.43% a year ago. Fee income grew 16.3% year-on-year to INR 61.80 billion in the reporting quarter. "Fees from retail, rural and business banking customers constituted about 78% of total fees in Q3-2025," the bank said in its release.

 

Total advances increased by 13.9% on year and 2.9% on quarter to INR 13.14 trillion as on Dec. 31 and the total deposits increased by 14.1% on year and 1.5% sequentially to INR 15.20 trillion.

 

Within total advances, net domestic advances grew by 15.1% on year and 3.2% on quarter as on Dec. 31. "The retail loan portfolio grew by 10.5% year-on-year and 1.4% sequentially, and comprised 52.4% of the total loan portfolio at December 31, 2024. Including non-fund outstanding, the retail portfolio was 43.9% of the total portfolio at December 31, 2024," the bank said in its press release. The business banking portfolio grew by 31.9% on year, domestic corporate portfolio grew by 13.2% on year, and rural portfolio grew by 12.2% year-on-year as on Dec. 31.

 

Within retail loans, personal loans were up 8.8% on year at INR 1.21 trillion and credit card loans were up 17.9% on year at INR 481.97 billion for the quarter ended December.

 

On the deposits front, average deposits rose 13.7% on year to INR 14.6 trillion in Oct-Dec. The average CASA ratio was 39.0% as on Dec. 31. The bank added 129 branches during Oct-Dec, taking its total branches to 6,742 branches as on Dec. 31. The cost of deposits inched up to 4.91% from 4.88% a quarter ago and the cost-to-income ratio in Oct-Dec stood at 38.5%.

 

Including profits for the nine months ended December, the bank's total capital adequacy ratio as on Dec. 31 was 16.60% and common equity tier-1 ratio was 15.93% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively.

 

The bank's board has approved the reappointment of Sandeep Batra and Rakesh Jha as executive director for a period of two years. Batra's reappointment is from Dec. 23, 2025 to Dec. 22, 2027 and Jha's from Sept. 2, 2025 to Sept. 1, 2027.

 

On Friday, shares of ICICI Bank closed 0.6% higher at INR 1,209.20 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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