ICICI Bank net profit rises 25 per cent to Rs 6,194 crore

ICICI Bank on Saturday said its net profit rose to Rs 6,194 crore ($833 million) in the third quarter of the current financial year, posting a year-on-year growth of 25 per cent.

ICICI Bank on Saturday said its net profit rose to Rs 6,194 crore ($833 million) in the third quarter of the current financial year, posting a year-on-year growth of 25 per cent. The bank's core operating profit (profit before provisions and tax, excluding treasury income) increased by 25 per cent year-on-year to Rs 10,060 crore ($1.4 billion) in the third quarter of 2021-22 from Rs 8,054 crore ($1.1 billion) in the quarter ended December 31, 2020.

Net interest income increased by 23 per cent year-on-year to Rs 12,236 crore ($1.6 billion) in October-December 2021 quarter from Rs 9,912 crore ($1.3 billion) in the corresponding period of previous year. The bank's net interest margin stood at 3.96 per cent in Q3 of 2021-22 compared to 3.67 per cent in Q3 of 2020-21 and 4.00 per cent in the quarter ended September 30, 2021.

Non-interest income, excluding treasury income, increased by 25 per cent year-on-year to Rs 4,899 crore ($659 million) in Q3 of 2021-22 from Rs 3,921 crore ($527 million) in Q3 of 2020-21. The retail loan portfolio grew by 19 per cent year-on-year and 5 per cent sequentially, and comprised 61.3 per cent of the total loan portfolio at December 31, 2021. Including non-fund outstanding, the retail loan portfolio was 51.3 per cent of the total portfolio at December 31, 2021.

Total deposits increased by 16 per cent year-on-year and 4 per cent sequentially to Rs 10,17,467 crore ($136.9 billion) at December 31, 2021. Average current account deposits increased by 34 per cent year-on-year. Average savings account deposits increased by 25 per cent year-on-year. Total term deposits increased by 12 per cent year-on-year to Rs 536,811 crore ($72.2 billion) at December 31, 2021.

The Bank had a network of 5,298 branches and 13,846 ATMs as on December 31, 2021. The net non-performing assets declined by 10 per cent sequentially to Rs 7,344 crore ($988 million) at December 31, 2021 from Rs 8,161 crore ($1.1 billion) at September 30, 2021. The net NPA ratio declined to 0.85 per cent at December 31, 2021 from 0.99 per cent at September 30, 2021. (ANI)

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