ICICI Bank , one of India's leading private sector banks, has announced its financial results for the third quarter, showcasing growth across key metrics. Additionally, CareEdge Ratings has reaffirmed the bank's credit ratings with a stable outlook.

Financial Performance

ICICI Bank reported a profit after tax (PAT) of ₹11,792.00 crore for Q3, marking a 14.8% year-on-year growth from ₹10,272.00 crore in the same quarter of the previous year. The bank's core operating profit grew by 13.1% to reach ₹16,516.00 crore.

Net Interest Income and Margin

The bank's net interest income increased by 9.1% to ₹20,371.00 crore, with a net interest margin of 4.25%.

Loan Portfolio and Deposit Growth

ICICI Bank's domestic loan portfolio demonstrated growth, expanding by 15.1% year-on-year to reach ₹12,82,778.00 crore. This growth was matched by an increase in total deposits, which grew by 14.1% to ₹15,20,309.00 crore.

Asset Quality

ICICI Bank's asset quality remained stable, with the net non-performing asset (NPA) ratio at 0.42%. CareEdge Ratings reported that the bank's gross NPA was 1.67% and net NPA was 0.39%.

Capital Adequacy

The bank reported a capital adequacy ratio of 16.60% and a CET-1 ratio of 15.93%. CareEdge Ratings noted that the bank maintains healthy capitalization with a capital adequacy ratio of 17%, well above regulatory requirements.

Credit Ratings

CareEdge Ratings has reaffirmed ICICI Bank's credit ratings across various instruments. The bank maintained AAA ratings for infrastructure bonds, long-term instruments, and Tier II bonds, while Tier I bonds received AA+ ratings.

Key Financial Metrics

Corporate Actions and Management Changes

ICICI Bank completed multiple equity share allotments under its employee stock option schemes throughout the period.

The bank announced the re-appointments of Executive Directors Sandeep Batra and Rakesh Jha.

ICICI Bank , one of India's leading private sector banks, has announced its financial results for the quarter ended September 30, showcasing robust growth across key metrics.

Financial Highlights

• Profit before tax (excluding treasury) grew by 9.1% year-on-year to ₹16,164.00 crore
• Net interest income increased by 7.4% to ₹21,529.00 crore
• Net interest margin stood at 4.30%
• Fee income rose by 10.1% to ₹6,491.00 crore
• Profit after tax increased by 5.2% to ₹12,359.00 crore

Loan Portfolio and Asset Quality

ICICI Bank's domestic loan portfolio expanded by 10.6% year-on-year, with notable growth in various segments:

• Retail loans grew by 6.6%
• Business banking segment saw a significant increase of 24.8%

The bank maintained a strong asset quality, with the net non-performing asset (NPA) ratio at 0.39%.

Capital Adequacy and Deposits

ICICI Bank continues to maintain a robust capital position:

• Common Equity Tier 1 (CET-1) ratio at 16.35%
• Total capital adequacy ratio at 17.00%

Average deposits increased by 9.1% year-on-year, reaching ₹15,57,449.00 crore.

Quarterly Performance Analysis

To provide a more comprehensive view of ICICI Bank's performance, here's a comparison of key metrics for the current quarter against the previous quarter and the same quarter last year:

While there's a slight decrease in performance compared to the previous quarter, the year-on-year growth remains positive across all key metrics.

Conclusion

ICICI Bank's results demonstrate the bank's resilience and consistent performance in a dynamic economic environment. The growth in profit before tax, excluding treasury operations, highlights the bank's core operational strength. The expansion in the domestic loan portfolio, particularly in the retail and business banking segments, indicates the bank's focus on diversified growth.

The bank's ability to maintain a strong asset quality with a low net NPA ratio, coupled with robust capital adequacy ratios, underscores its financial stability and risk management capabilities. The increase in average deposits also reflects continued customer trust and the bank's strong market position.

As ICICI Bank continues to navigate the evolving financial landscape, its focus on sustainable growth, asset quality, and capital strength positions it well for future opportunities in the Indian banking sector.