ICICI Bank has announced a robust performance for the second quarter of fiscal year 2025, with a net profit of ₹11,746 crore, marking a 14.47% increase from ₹10,261 crore in the same period last year.
The results, released on Saturday, highlight the bank's strong treasury gains as a key driver behind this growth.
The bank's net interest margin for Q2 stood at 4.27%, slightly down from 4.36% in the previous quarter and 4.53% in Q2 of the last fiscal year.
Notably, treasury gains surged to ₹680 crore (approximately $81 million) in Q2, a significant turnaround from a treasury loss of ₹85 crore in the corresponding quarter of the previous fiscal year.
This improvement reflects both realized and mark-to-market gains in equity and fixed-income securities.
In terms of asset quality, ICICI Bank saw its gross non-performing asset (NPA) ratio decline to 1.97% as of September 30, 2024, down from 2.15% on June 30, 2024, and a notable decrease from 2.48% in Q2 of the previous fiscal year.
The net NPA ratio also improved slightly to 0.42% from 0.43% in both the June 2024 quarter and the previous September.
Core operating profit increased by 12.1%, reaching ₹16,043 crore, up from ₹14,314 crore in Q2 of FY24.
Additionally, net interest income (NII) rose by 9.5% year-on-year to ₹20,048 crore, compared to ₹18,308 crore in the same quarter last year.
However, the bank's provisions (excluding tax provisions) rose significantly to ₹1,233 crore in Q2, compared to ₹583 crore in the same quarter of FY24 and ₹1,332 crore in the previous quarter.
Total deposits for ICICI Bank experienced a robust growth of 15.7% year-on-year, reaching ₹14,97,761 crore as of September 2024.
This strong performance underscores the bank's continued resilience and growth in a competitive market