ICICI Bank Q2 results: Net profit grows 14.47%, interest income up 16.08%

ICICI Bank Q2 results: ICICI Bank Ltd, India’s second-largest private sector lender has announced its second quarter financial results for the financial year 2024-25 on Saturday, October 26, 2024.

How much was ICICI Bank’s income?
The bank recorded a standalone net profit of ₹11,745.88 crore, a gain of 14.47% or ₹1,484.88 crore compared to the same quarter of the previous year, which was at ₹10,261 crore.

The income on interest was ₹40,537.38 crore, which was a 16.08% gain or a gain of ₹5,616.99 crore compared to the interest income of ₹34,920.39 crore during the first quarter of the financial year 2023-24, or the previous year.

The income on investments rose to ₹8,311.33 crore, which was an increase of 18.38% or ₹1,291.02 crore from the previous year’s ₹7,020.31 crore.

How much was ICICI Bank’s NPAs?
ICICI Bank’s gross non-performing assets (NPAs) was ₹27,121.15 crore. This was a fall of 9.10% or ₹2,715.79 crore compared to the previous year’s second quarter NPAs of ₹29,836.94 crore.

The bank’s net NPAs however increased to ₹5,685.14 crore, a rise of 12.65% or ₹638.67 crore compared to ₹5,046.47 crore during the same quarter of the previous year.

What are the sectoral aspects of ICICI Bank’s Q2 2024-25 financial results?
The bank’s retail banking revenue grew by 17.14% to ₹38,750.86 crore compared to the ₹33,080.02 crore during the same quarter of the previous year, which is a rise of ₹5,670.84 crore.

ICICI’s wholesale banking revenue grew to ₹20,388.83 crore, which is a increase of ₹3,005.06 crore or 17.28% compared to last year’s ₹17,383.77 crore.

The bank’s digital banking revenues increased by 31.49% or by ₹2,407.39 crore to ₹10,051.48 crore from ₹7,644.09 crore last year.

How did ICICI Banks’ shares perform?
ICICI Bank’s shares closed at ₹1,255.50 on the Bombay Stock Exchange (BSE) after the week’s trading session ended on Friday, October 25, 2024. This was a gain of 0.23% or 2.90 points from the previous day’s close.