Earnings Review
ICICI Bank Jan-Mar net profit up 18% on income growth, fall in provisions
This story was originally published at 18:20 IST on 19 April 2025
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--ICICI Bank Jan-Mar net profit INR 126.30 bln
--Analysts saw ICICI Bank Jan-Mar net profit INR 117.91 bln
--ICICI Bank Jan-Mar net profit INR 126.30 bln vs INR 107.08 bln yr ago
--ICICI Bank FY25 net profit INR 472.27 bln vs INR 408.88 bln yr ago
--ICICI Bank Jan-Mar total income INR 496.91 bln vs INR 435.97 bln yr ago
--ICICI Bank FY25 total income INR 1.92 tln vs INR 1.66 tln yr ago
--ICICI Bank Jan-Mar provisions INR 8.91 bln vs INR 7.18 bln yr ago
--ICICI Bank gross NPA ratio 1.67% as on Mar 31 vs 1.96% qtr ago
--ICICI Bank net NPA ratio 0.39% as on Mar 31 vs 0.42% qtr ago
--ICICI Bank Basel-III capital adequacy ratio 16.55% as on Mar 31
--ICICI Bank: Hold contingency provision of INR 131 bln as on Mar 31
--ICICI Bank to pay INR 11 per share dividend
--ICICI Bank provision coverage ratio 76.2% as on Mar 31
--ICICI Bank Jan-Mar net interest income INR 211.93 bln, up 11% on year
--ICICI Bank Jan-Mar net interest margin at 4.41% vs 4.25% quarter ago
--ICICI Bank total deposits at INR 16.10 tln Mar 31, up 14% YoY
--ICICI Bank domestic advances at INR 13.11 tln Mar 31, up 13.9% YoY
--ICICI Bank added 241 branches during Jan-Mar
--ICICI Bk Jan-Mar recoveries, upgrades INR 38.17 bln
--ICICI Bk Jan-Mar wrote off loans worth INR 21.18 bln
By Christina Titus
MUMBAI – Growth in income and sequential fall of provisions helped ICICI Bank to report a higher-than-expected net profit for the March quarter. The bank's net profit rose 18% on year to INR 126.30 billion, beating analysts' estimate of INR 117.91 billion. On a quarterly basis, the net profit was up 7.1%.
The private sector bank reported 14% on-year growth in total income to INR 496.91 billion for the March quarter. Quarter on quarter, the income was up 2.7%. The bank reported 11.8% on-year rise in interest earned to INR 424.31 billion. Sequentially, it grew a mere 2.7%.
The provisions fell 27.4% on quarter to INR 8.91 billion, but were up 24% on year. The bank held contingency provision of INR 131 billion as of Mar. 31.
For the financial year ended March, the lender's net profit was INR 472.27 billion on total income of INR 1.92 trillion.
The bank's asset quality improved in the March quarter, with gross non-performing asset ratio declining to 1.67% from 1.96% a quarter ago. Net non-performing assets ratio was 0.39%, down from 0.42% a quarter ago.
During the March quarter, the bank recovered and upgraded loans worth INR 38.17 billion and wrote-off loans worth INR 21.18 billion.
The bank's net interest income –- the difference between interest earned and expended –- rose 11% on year to INR 211.93 billion in Jan-Mar. Net interest margin, a measure of profitability for banks, inched up to 4.41% in the reporting quarter from 4.25% a quarter ago despite the Reserve Bank of India's repo rate cut in February. For 2024-25 (Apr-Mar), the net interest margin was 4.32%.
On the liability side, the lender's total deposits grew 14% on year to INR 16.10 trillion as of Mar. 31. The average current account, savings account ratio for the quarter was 38.4%. The bank's domestic loan book grew 13.9% on year to INR 13.11 trillion as of Mar. 31. Retail loans, accounting for 52.4% of the total loan portfolio, grew by 8.9% on year. Domestic corporate loans outpaced retail loans at 11.9% on year.
The bank maintained Basel-III capital adequacy ratio of 16.55% as of Mar. 31. Its provision coverage ratio was 76.2% at the end of March.
The bank declared a dividend of INR 11 per share. It added 241 branches in the March quarter. On Thursday, shares of ICICI Bank closed 3.7% higher at INR 1,406.70 on the National Stock Exchange. End
Edited by Ashish Shirke
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