MUMBAI: The second largest private sector lender, ICICI Bank, has reported a 14.5 percent rise in net income at Rs 11746 crore, beating street expectations, helped by healthy interest income against a marginal increase in operating expenses. Brokerages were expecting the bank to log in only Rs 10,989 crore in net income.
The bank told reporters in a concall Saturday that the net interest income increased by 9.5 percent to Rs 20,048 crore. The net interest margin printed in at 4.27 percent, down from 4.36 percent in the previous quarter and 4.53 percent in the year-ago period.
The non-interest income grew 10.8 percent to Rs 6,496 crore, with a 13.3 percent rise in fee income to Rs 5,894 crore, driven largely by contributions from retail, rural and business banking customers, the management said.
The asset side saw steady expansion, with domestic loans growing 15.7 percent to Rs 12.43 trillion while deposits posted a healthier 15.7 percent growth on-year at Rs 14.98 trillion, with the average current account - savings account (CASA) ratio recording at 38.9.
Asset quality continued to be robust, with gross NPA ratio narrowing to 1.97 compared to 2.15 percent in June 2024. Net NPA ratio remained nearly flat at 0.42 as against 0.43 in the previous quarter. The provisioning coverage ratio on non-performing loans stood at 78.5.
The capital adequacy ratio, including profits for the first half of FY25, was 16.66, with a CET-1 ratio at 15.96. Treasury operations provided a boost, with gains of Rs 680 crore compared to a Rs 85 crore loss in the same period last year, the management said.
