ICICI Bank’s Profit Grows 23.6% YoY To Rs 10,272 Cr In Q3 FY24
ICICI Bank has registered a 23.6 per cent growth in profit on a year-on-year basis in the quarter ending December 2023 (Q3 FY24) as compared to the same period last year. Core operating profit has grown by 10.3 per cent YoY to Rs 14,601 crore (USD 1.8 billion) in Q3 FY24.
Total period-end deposits have grown by 18.7 per cent YoY to Rs 13,32,315 crore (USD 160.1 billion) on 31 December 2023. The average current account and savings account (CASA) ratio was 39.4 per cent in Q3 FY24.
The net non-performing assets (NPA) ratio was 0.44 per cent in Q3 FY24 compared to 0.43 per cent in Q3 FY23. The provisioning coverage ratio on NPAs was 80.7 per cent till 31 December 2023. Including profits for the nine months ended December 31, 2023 (9M-2024), the total capital adequacy ratio was 16.70 per cent and the Common Equity Tier-1 (CET-1) ratio was 16.03 per cent, on a standalone basis, on 31 December 2023.
The domestic loan portfolio has grown by 18.8 per cent YoY to Rs 11,14,820 crore (USD 134.0 billion) till 31 December 2023.
Net interest income (NII) has increased by 13.4 per cent year-on-year (YoY) to Rs 18,678 crore (USD 2.2 billion) in Q3 FY24 from Rs 16,465 crore (USD 2.0 billion) in Q3 FY23.
The net interest margin is 4.43 per cent in Q3 FY24 compared to 4.53 per cent in Q2 FY24
and 4.65 per cent in Q3 FY23. The net interest margin was 4.57 per cent in 9M-FY23 Non-interest income, excluding treasury, increased by 19.8 per cent YoY to Rs 5,975 crore (USD 718 million) in Q3 FY24 from Rs 4,987 crore (USD 599 million) in Q3-2023.
