ICICI Bank reported a 14.8% year–on–year (Y-o-Y) increase in net profit to Rs 11,792 crore in the quarter-ended December (Q3FY25), due to steady growth in net interest income (NII) and a robust increase in non-interest income, according to an official release.
ICICI Bank
ICICI Bank reported a 14.8% year–on–year (Y-o-Y) increase in net profit to Rs 11,792 crore in the quarter-ended December (Q3FY25), due to steady growth in net interest income (NII) and a robust increase in non-interest income, according to an official release.
The bank’s net interest income rose by 9.1% Y-o-Y to Rs 20,371 crore in Q3 due to robust growth in advances during the quarter. However, its net interest margin (NIM) – a measure of the profitability of banks – dropped marginally by 2 basis points (bps) to 4.25 percent in Q3 compared to 4.27% in the previous quarter. Notably, its net interest margin (NIM) was down by 18 bps over the same period last year, the release stated.
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The bank’s non-interest income was up by 12.1% Y-o-Y to Rs 6,697 crore in Q3, driven by fee income, which was up by 16.3% Y-o-Y to Rs 6,180 crore during this period.
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The bank saw higher gross non-performing asset (NPA) additions in Q3, with gross slippages in the quarter at Rs 6,085 crore compared to Rs 5,073 crore in Q2FY25 and Rs 5,916 crore in Q1FY25.
“The bank typically witnessed higher NPA additions from the Kisan credit card portfolio in the first and third quarter of a fiscal year,” the release stated.
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