rewrite this title and make it good for SEOICICI Bank Q3 FY25: Net profit goes up by 15%, NII increases 9.1%

In the third quarter of fiscal year 2025, ICICI Bank, the second largest private sector bank following HDFC Bank, disclosed a net profit of Rs 11,792 crore. This marked a 15% increase compared to the same quarter the previous year when the net profit was Rs 10,272 crore.

Additionally, the lender reported a net interest income of Rs 20,370.6 crore, reflecting a 9.1% increase from Rs 18,678 crore in the previous year.

NPA

The net NPA (bad loans) ratio remained steady at 0.42% in the latest quarter, while the provisioning coverage ratio for non-performing loans stood at 78.2% as of December-end.

In Q3 of FY25, the gross NPA ratio showed a slight improvement to 1.96% from 1.97% in Q2. Gross NPA additions totaled Rs 6,085 crore in Q3, compared to Rs 5,916 crore in Q1 and Rs 5,073 crore in Q2 of FY25.

ICICI Bank noted that it typically experiences higher NPA additions from the kisan credit card portfolio in the first and third quarters of the fiscal year.

During the quarter, the bank wrote off Rs 2,011 crore worth of gross NPAs.

Deposits

In Q3, ICICI Bank saw a 14.1% year-over-year increase and a 1.5% sequential increase in total period-end deposits, reaching Rs 15,20,309 crore. Average deposits also showed growth, with a 13.7% year-over-year increase and a 2.1% sequential increase to Rs 14,58,489 crore for the quarter.

Specifically, average current account deposits rose by 13.1% year-over-year and 4.5% sequentially, while average savings account deposits increased by 12.3% year-over-year and 1.3% sequentially. The average current account and savings account (CASA) ratio stood at 39% during Q3.

Credit growth

The net domestic advances experienced a year-on-year growth of 15.1% and a sequential growth of 3.2% during the quarter. The retail loan portfolio saw a year-on-year growth of 10.5% and a sequential growth of 1.4%, making up 52.4% of the total loan portfolio.

On the other hand, the business banking portfolio witnessed a year-on-year growth of 31.9% and a sequential growth of 6.4%.

The shares of ICICI Bank closed at Rs 1,213.70 on Friday (January 24), 0.99% percent up on BSE.