ICICI Bank Ltd, India’s second-largest private sector lender has announced its first quarter financial results for the financial year 2024-25 on Saturday, July 27.
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How much was ICICI Bank’s income?
The bank recorded a standalone net profit of ₹11,059.11 crore, a gain of 14.62% or ₹1,410.91 compared to the same quarter of the previous year, which was at ₹9,648.20 crore.
The bank’s total income grew to ₹45,997.70 crore, compared to ₹38,762.86 crore in Q1 2023-24. This was an increase of 18.66% or ₹7,234.84 crore.
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The net interest income increased by 7.3% year-on-year to ₹19,553 crore from ₹18,227 crore in the same quarter of the previous year.
The income on interest was ₹38,995.78, which was a 17% gain or a gain of ₹5,668.17 crore compared to the interest income of ₹33,327.61 crore during the first quarter of the financial year 2023-24, or the previous year.
The income on investments rose to ₹8,156.58 crore, which was an increase of 23.24% or ₹1,538.58 crore from the previous year’s ₹6,618.00 crore.
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Other income increased to ₹7,001.92 crore. This was a gain of 28.82% or ₹1,566.67 from ₹5,435.25 crore seen in the same quarter of the previous year. The bank had transferred an accumulated translation loss of ₹339.66 crore related to the closure of the Bank’s Offshore Banking Unit, SEEPZ Mumbai, to the profit and loss account.
What was ICICI Bank’s net interest margin?
The net interest margin was 4.36% in Q1 2024-25, compared to 4.78% in Q1 2023-24.
How much was ICICI Bank’s expenditure?
The bank recorded total standalone expenditure of ₹29,972.86 crore. This was an increase of 21.72% or ₹5,349.12 crore compared to ₹24,623.74 crore in the same quarter of the previous year.
How much was ICICI Bank’s NPAs?
ICICI Bank’s gross non-performing assets (NPAs) increased to ₹28,718.63 crore. This was a fall of 9.75% or ₹3,103.76 crore compared to the previous year’s first quarter NPAs of ₹31,822.39 crore.
This however, was an increase of 2.7% or ₹756.95 crore compared to the previous quarter’s ₹27,961.68 crore.
The bank’s net NPAs increased to ₹5,684.79 crore, a rise of 5.7% or ₹307 crore compared to ₹5,377.79 crore during the same quarter of the previous year.
The net NPAs also increased sequentially by 5.63% or ₹303.02 crore compared to the previous quarter’s ₹5,381.77 crore.
