ICICI Bank Q3 Financial Highlights

ICICI Bank has announced a significant 15% increase in its standalone net profit for the third quarter ending December 2024, reaching Rs 11,792 crore. This marks a notable rise from the Rs 10,272 crore net profit reported in the same quarter of the previous year.

The bank's total income also saw an upward trend, climbing to Rs 48,368 crore from Rs 42,792 crore a year ago. Interest income for the quarter under review increased to Rs 41,300 crore, compared to Rs 36,695 crore in the corresponding period last year.

On the asset quality front, ICICI Bank has made notable improvements. The gross non-performing assets (NPAs) ratio decreased to 1.96% from 2.3% a year ago. Similarly, net NPAs have reduced to 0.42% from 0.44% at the end of the third quarter of the last fiscal year.

However, the bank's overall provisions, excluding tax, have increased to Rs 1,227 crore from Rs 1,049 crore a year ago. The provision coverage ratio on non-performing loans stood at 78.2% as of December 31, 2024. Additionally, the Capital Adequacy Ratio improved to 14.71% from 14.61% at the end of the third quarter of the previous financial year.