ICICI Bank Q3 profit rises 15% to ₹11,792 crore

ICICI bank. File
| Photo Credit: Reuters

ICICI Bank on Saturday (January 25, 2025) reported a 15% rise in standalone net profit at ₹11,792 crore for the third quarter ended December 2024.

The second-largest private sector lender had earned a net profit of ₹10,272 crore in the same quarter a year ago.

“Total income increased to ₹48,368 crore from ₹42,792 crore in the same period a year ago,” ICICI Bank said in a regulatory filing.

Interest income increased to ₹41,300 crore during the quarter under review as compared to ₹36,695 crore in the year-ago period.

On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96% as against 2.3% a year ago.

Similarly, net NPAs, or bad loans, came down to 0.42% from 0.44% at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax increased to ₹1,227 crore during the quarter from ₹1,049 crore a year ago.

The provision coverage ratio on non-performing loans was 78.2% as on December 31, 2024.

Capital Adequacy Ratio rose to 14.71% from 14.61% at the end of the third quarter of the previous financial year.