<p><strong>Mumbai:</strong> ICICI Bank, a leading private sector in India, posted a 14.6% growth in net profit to ₹11,059 crore in the first quarter of the financial year 2025, compared to the same period last year. The net interest income (NII) increased by 7.3% to ₹19,553 crore in Q1 FY25 from the same period last year. Core operating profit grew by 11% year-on-year to ₹15,412 from ₹13,887 in Q1FY24.</p><p>The capital position of the bank continued to be strong with a CET-1 ratio of 15.92% and a total capital adequacy ratio of 16.63% as on June 30, 2024.</p><p><strong>Sandeep Batra, Executive Director, ICICI Bank</strong> said, “We will continue to operate within our strategic framework while focusing on micro markets and ecosystems. The principles of “Fair to Customer, Fair to Bank”, “One Bank, One Team” and “Return of Capital” will guide our operations. We focus on building a culture where every employee in the bank serves customers with humility and upholds the values of brand ICICI. We aim to be a trusted financial services provider of choice for our customers and deliver sustainable returns to our shareholders.”</p><p><strong>Asset Quality:</strong></p><p>In Q1 FY25, ICICI Bank maintained a positive trajectory in managing its asset quality. The gross NPA ratio was 2.15% as of June 2024, compared to 2.76% as of June 2023. This was the best asset quality performance by the bank in the last 10 quarters. Notably, the net NPA ratio also slipped to a mark of 0.43% in this quarter compared to 0.48% as of June 2023, showcasing the bank's robust risk management measures. During the quarter, the bank continued to maintain contingency provisions of ₹13,100 crore. The provisioning coverage ratio on NPAs was 79.7% at June 30, 2024.</p><p><strong>Rise in deposit:</strong></p><p>ICICI Bank's deposit portfolio showed robust growth, with a total period-end deposit increased by 15.1% year-on-year to ₹14,26,150 crore in Q1 FY25. The period-end term deposits which constitute 59.1% of the total deposits increased by 19.9% year-on-year and 3.1% sequentially at June 30, 2024.</p><p>During this quarter the average deposits grew by 17.8% year-on-year while the average term deposits and CASA deposits grew by 23.8% and 9.7% year-on-year respectively as on June 30, 2024. The average current account and savings account (CASA) ratio stood at 39.6% in Q1 FY25, reflecting the bank's success in nurturing low-cost deposits.</p><p><strong>Loan Growth:</strong></p><p>In terms of loan growth, the bank's overall loan portfolio grew by 15.7% year-on-year as of Q1 FY25. The retail loan portfolio, which constitutes 54.4% of the total loan portfolio, grew by 17.1% year-on-year and 2.4% sequentially. The biggest share of retail loans is held by mortgage loans with 59.5% with an average ticket size of ₹35 lakh. The vehicle loan which is 13.8% of the retail portfolio disbursed by the bank, comprises 85% new vehicle loans and 15% old vehicle loans. The personal loan portfolio grew by 17.3%, and the credit card portfolio grew by 7.8% year-on-year.</p><p>The net domestic loan portfolio also grew by 15.9% year-on-year and 3.3% sequentially this quarter. The business banking portfolio grew by 35.6% year-on-year, and the SME business, comprising borrowers with a turnover of less than ₹250 crore, grew by 23.5% year-on-year. Similarly, the rural portfolio grew by 16.9%, and the domestic corporate portfolio grew by 10.3% year-on-year as of June 30, 2024. </p><p>On overall macro-economy, Sandeep Batra said, “We continue to monitor the evolving economic developments. Also, we continue to focus on enhancing delivery systems, simplifying processes, and strengthening our operational resilience for seamless delivery of services to our customers. Maintaining high standards of governance, deepening coverage, and enhancing delivery capabilities are focus areas for our risk-calibrated profitable growth” he added.</p>
<p><strong>Mumbai:</strong> ICICI Bank, a leading private sector in India, posted a 14.6% growth in net profit to ₹11,059 crore in the first quarter of the financial year 2025, compared to the same period last year. The net interest income (NII) increased by 7.3% to ₹19,553 crore in Q1 FY25 from the same period last year. Core operating profit grew by 11% year-on-year to ₹15,412 from ₹13,887 in Q1FY24.</p><p>The capital position of the bank continued to be strong with a CET-1 ratio of 15.92% and a total capital adequacy ratio of 16.63% as on June 30, 2024.</p><p><strong>Sandeep Batra, Executive Director, ICICI Bank</strong> said, “We will continue to operate within our strategic framework while focusing on micro markets and ecosystems. The principles of “Fair to Customer, Fair to Bank”, “One Bank, One Team” and “Return of Capital” will guide our operations. We focus on building a culture where every employee in the bank serves customers with humility and upholds the values of brand ICICI. We aim to be a trusted financial services provider of choice for our customers and deliver sustainable returns to our shareholders.”</p><p><strong>Asset Quality:</strong></p><p>In Q1 FY25, ICICI Bank maintained a positive trajectory in managing its asset quality. The gross NPA ratio was 2.15% as of June 2024, compared to 2.76% as of June 2023. This was the best asset quality performance by the bank in the last 10 quarters. Notably, the net NPA ratio also slipped to a mark of 0.43% in this quarter compared to 0.48% as of June 2023, showcasing the bank's robust risk management measures. During the quarter, the bank continued to maintain contingency provisions of ₹13,100 crore. The provisioning coverage ratio on NPAs was 79.7% at June 30, 2024.</p><p><strong>Rise in deposit:</strong></p><p>ICICI Bank's deposit portfolio showed robust growth, with a total period-end deposit increased by 15.1% year-on-year to ₹14,26,150 crore in Q1 FY25. The period-end term deposits which constitute 59.1% of the total deposits increased by 19.9% year-on-year and 3.1% sequentially at June 30, 2024.</p><p>During this quarter the average deposits grew by 17.8% year-on-year while the average term deposits and CASA deposits grew by 23.8% and 9.7% year-on-year respectively as on June 30, 2024. The average current account and savings account (CASA) ratio stood at 39.6% in Q1 FY25, reflecting the bank's success in nurturing low-cost deposits.</p><p><strong>Loan Growth:</strong></p><p>In terms of loan growth, the bank's overall loan portfolio grew by 15.7% year-on-year as of Q1 FY25. The retail loan portfolio, which constitutes 54.4% of the total loan portfolio, grew by 17.1% year-on-year and 2.4% sequentially. The biggest share of retail loans is held by mortgage loans with 59.5% with an average ticket size of ₹35 lakh. The vehicle loan which is 13.8% of the retail portfolio disbursed by the bank, comprises 85% new vehicle loans and 15% old vehicle loans. The personal loan portfolio grew by 17.3%, and the credit card portfolio grew by 7.8% year-on-year.</p><p>The net domestic loan portfolio also grew by 15.9% year-on-year and 3.3% sequentially this quarter. The business banking portfolio grew by 35.6% year-on-year, and the SME business, comprising borrowers with a turnover of less than ₹250 crore, grew by 23.5% year-on-year. Similarly, the rural portfolio grew by 16.9%, and the domestic corporate portfolio grew by 10.3% year-on-year as of June 30, 2024. </p><p>On overall macro-economy, Sandeep Batra said, “We continue to monitor the evolving economic developments. Also, we continue to focus on enhancing delivery systems, simplifying processes, and strengthening our operational resilience for seamless delivery of services to our customers. Maintaining high standards of governance, deepening coverage, and enhancing delivery capabilities are focus areas for our risk-calibrated profitable growth” he added.</p>