HDFC & ICICI Bank report strong earnings with record profits in Q1
MUMBAI:
HDFC Bank
and ICICI Bank reported strong earnings growth for the quarter ended June 2025, supported by a rise in both interest and non-interest income. However, both lenders flagged margin pressures and adopted a cautious stance in certain retail segments.
HDFC Bank declared a 1:1 bonus issue and an interim dividend of Rs 5 per share. The bank's standalone net profit rose 12.2% year-on-year to a record Rs 18,155 crore, up from Rs 16,175 crore in the year-ago quarter. The increase was driven by a 103.7% jump in other income and a lower tax outgo, even as provisions rose fourfold. Total income grew 18.5% to Rs 99,200 crore, supported by a 6.1% rise in interest income. Earnings from investments rose 20.1%, while income from balances with RBI and interbank funds surged 41.7%.
As of June-end, ad- vances stood at Rs 27.8 lakh crore, up 8%, while deposits rose 16% to Rs 27.6 lakh crore. ICICI Bank posted a 15.4% year-on-year growth in standalone net profit to Rs 12,768 crore, compared with Rs 11,059 crore a year earlier. Profit growth was backed by a 10.1% rise in interest income and a 21.5% increase in other income. Operating profit rose 17% to Rs 18,746 crore, while provisions grew 36.2% to Rs 1,815 crore.
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Advances rose 11.5% to Rs 13.6 lakh crore, and deposits increased 12.8% to Rs 16 lakh crore. The board also approved acquisition of ICICI Prudential Pension Funds Management Company for Rs 203.5 crore, making it a wholly owned subsidiary, pending regulatory approvals. HDFC Bank CFO Srinivasan Vaidyanathan said loan growth is expected to match the industry in FY26 and improve by FY27, led by consumption-driven lending.
Mortgages grew 7%, and overall retail lending rose 9.6%. ICICI's ED Sandeep Batra said personal loan and credit card growth slowed to 1% due to calibrated risk management but asset quality remained stable.
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