ICICI Bank shares jump nearly 2% as Q1 profit rises 15.4% YoY to Rs 12,768 crore, beats estimates

Business Upturn

5 days ago

ICICI Bank shares were in the green on Monday, rising nearly 2% after the lender delivered a strong set of numbers for the June quarter, comfortably beating market expectations on both profit and core income. As of 9:16 AM, the shares were trading 1.51% higher at Rs 1,447.40.
Net Interest Income (NII)—the bank's key revenue driver—rose 10.6% year-on-year to ₹21,635 crore, topping CNBC-TV18's estimate of ₹20,923 crore. Net profit came in at ₹12,768 crore, up 15.4% from the year-ago period, and significantly higher than the expected ₹11,747 crore.
Asset quality remained steady. The gross non-performing assets (GNPA) ratio was flat at 1.67%, while net NPA inched up slightly to 0.41% from 0.39% in the previous quarter. Provisions, however, saw a notable jump to ₹1,814 crore compared to ₹890 crore in Q4.
On the business front, the bank saw robust loan growth. Total advances rose 11.5% YoY and 1.7% sequentially to ₹13.64 lakh crore. Retail loans, which make up over half the portfolio, grew nearly 7%, while business banking loans shot up close to 30% YoY. Rural lending, however, saw a dip.
Deposits were also healthy, rising 12.8% YoY to ₹16.08 lakh crore. Average deposits grew 11.2% during the quarter. The bank continued to expand its footprint, adding 83 branches and taking the total count to 7,066, with over 13,000 ATMs across the country.
On the asset quality side, ICICI Bank reported gross slippages of ₹6,245 crore, with net additions at ₹3,034 crore after accounting for recoveries and upgrades. Bad loan write-offs stood at ₹2,359 crore, while the provision coverage ratio remained strong at 75.3%.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com