Mon Oct 28 07:30:00 UTC 2024: ## ICICI Bank Posts Strong Q2 FY25 Results, Profit Up 14.5%

**Mumbai, India -** ICICI Bank, India’s leading private sector lender, has reported a strong performance for the second quarter of fiscal year 2025, with net profit rising by 14.5 percent year-on-year to Rs 11,746 crore. This exceeded market expectations, with analysts polled by Moneycontrol forecasting a profit of Rs 10,989 crore.

The bank’s net interest income (NII) saw a 9.5 percent increase to Rs 20,048 crore, although it fell short of the estimated Rs 20,845 crore. ICICI Bank’s net interest margin (NIM) declined to 4.27 percent, down from 4.36 percent in the previous quarter and 4.53 percent a year ago.

However, the bank’s non-interest income witnessed robust growth of 10.8 percent to Rs 6,496 crore, driven by a 13.3 percent increase in fee income to Rs 5,894 crore. This growth was largely attributed to contributions from retail, rural, and business banking customers.

ICICI Bank’s loan portfolio continued to expand, with domestic loans growing by 15.7 percent year-on-year to Rs 12.43 lakh crore. Total deposits also saw a 15.7 percent year-on-year increase, reaching Rs 14.98 lakh crore. The average current account-saving account (CASA) ratio was recorded at 38.9 percent.

Asset quality remained strong, with the gross non-performing asset (NPA) ratio narrowing to 1.97 percent at the end of September 2024, compared to 2.15 percent in June 2024. Net NPA ratio remained nearly flat at 0.42 percent. The provisioning coverage ratio on non-performing loans stood at 78.5 percent.

The bank’s total capital adequacy ratio, including profits for the first half of FY25, was 16.66 percent, with a CET-1 ratio of 15.96 percent. Treasury operations contributed positively with gains of Rs 680 crore, compared to a loss of Rs 85 crore in the same period last year.

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