Two major ICICI group companies recently executed substantial block trades on the National Stock Exchange (NSE), demonstrating significant market activity within the group. The transactions, involving ICICI Bank and ICICI Prudential Life Insurance Company, totaled Rs. 186.43 crores.

Block Trade Details

ICICI Prudential Life Insurance Company completed a block trade of 1,246,853 shares at Rs. 606.25 per share, amounting to Rs. 75.59 crores. Concurrently, ICICI Bank executed a larger block trade involving 812,137 shares at Rs. 1,364.80 per share, valued at Rs. 110.84 crores.

Block trades of this magnitude often indicate significant institutional activity or strategic moves by large investors. These transactions may potentially impact market sentiment and liquidity for the respective stocks.

Recent Corporate Update

In a separate development, ICICI Bank has recently announced a change in its domain name from '.com' to '.bank.in' in compliance with Reserve Bank of India (RBI) guidelines. The bank's website has transitioned from www.icicibank.com to www.icici.bank.in .

ICICI Bank has assured stakeholders that all necessary measures have been taken to ensure a smooth transition. Visitors to the old domain will be automatically redirected to the new one, where they can access all previously available content and services in compliance with SEBI regulations.

This domain change aligns with regulatory requirements and may reflect the banking sector's ongoing efforts to enhance digital security and establish a distinct online presence for financial institutions.

As these developments unfold, investors and market participants will likely keep a close watch on ICICI group companies for any potential impact on their market performance and strategic directions.

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.