NEW DELHI, Jan 25: ICICI Bank announced on Saturday a 15% increase in standalone net profit, reaching ₹11,792 crore for the third quarter ending December 2024.
In the same quarter last year, the second-largest private sector lender reported a net profit of ₹10,272 crore.
The bank’s total income rose to ₹48,368 crore, up from ₹42,792 crore during the corresponding period last year, according to a regulatory filing from ICICI Bank.
Interest income for the quarter also saw growth, climbing to ₹41,300 crore compared to ₹36,695 crore a year earlier.
On the asset quality front, the gross non-performing assets (NPAs) ratio improved to 1.96%, down from 2.3% in the previous year.
Net NPAs, or bad loans, decreased to 0.42%, down from 0.44% at the end of the same quarter last fiscal year.
However, total provisions, excluding taxes, increased to ₹1,227 crore during the quarter, up from ₹1,049 crore a year ago.
The provision coverage ratio for non-performing loans stood at 78.2% as of December 31, 2024.
Additionally, the Capital Adequacy Ratio improved to 14.71%, compared to 14.61% at the end of the same quarter in the previous financial year. (PTI)
