ICICI Bank Q1FY25 Quarter Results
ICICI Bank’s net revenues grew over 29% YoY
- 31 Jul 2024
- ICICI Bank’s net revenues (net interest income plus other income) grew by 0.1% quarter-on-quarter (QoQ) during the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed a growth of 29.2%.
- Its expenses for the quarter were down by 2.3% QoQ and up 35.1% YoY.
- The bank’s net profit grew 0.2% QoQ and 10% YoY.
- The earnings per share (EPS) of ICICI Bank stood at 16.3 during Q1FY25.
ICICI Bank’s financial statements for Q1FY25:
| (Rs, crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 52,084.0 | 67,181.7 | 67,270.1 | 0.1% | 29.2% |
Total expenses | 36,424.3 | 50,330.2 | 49,192.8 | -2.3% | 35.1% |
Provisions & contingencies | 1,345.0 | 697.9 | 1,315.9 | 88.5% | -2.2% |
Profit before tax | 14,565.7 | 16,381.0 | 16,818.3 | 2.7% | 15.5% |
Tax | 3,551.2 | 4,180.9 | 4,355.5 | 4.2% | 22.6% |
Profit after tax | 10,636.1 | 11,671.5 | 11,695.8 | 0.2% | 10.0% |
Earnings per share | 14.9 | 16.3 | 16.3 |
Financials:
- Total Income: Increased from ₹52,084 crores to ₹67,270 crores, up 29.2% YoY(Q1FY25).
- Total Expenses: Rose from ₹36,424 crores to ₹49,193 crores, up 35.1% YoY(Q1FY25).
- Net Profit: is up 10% YoY to ₹11,696 crores.
- EPS: Improved from 14.9 to 16.3.
- Gross NPA Ratio: is stable at 2.15% (Q4FY24: 2.16%).
- Net NPA Ratio: Stood at 0.43%.
Management Commentary:
Sandeep Batra, Executive Director of ICICI Bank, said,
“Clearly, deposits and loans go hand in hand. Our average deposits grew 17.8 per cent Y-o-Y and our loan portfolio grew by 15.7 per cent Y-o-Y. The wholesale deposits in the system have remained sticky, and we have seen some banks increasing retail deposits. Our focus will remain on trying to meet the 360 needs of the customers, and hopefully, it will play out well for us in the future.”
Data Source: BSE, Company announcements
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