ICICI Bank's Financial Triumph in Q3FY25

ICICI Bank has announced a significant 14.8% year-on-year increase in its profit after tax, reaching Rs 11,792 crore for the quarter ending December 31, 2024. This marks a notable rise from Rs 10,272 crore in the same quarter of the previous year.

Driving Factors Behind the Growth

The bank's growth was propelled by higher net interest income and fee earnings, alongside a 15.1% increase in loans, particularly in business banking. Net interest income saw a 9.1% year-on-year rise to Rs 20,371 crore, despite a slight quarter-on-quarter decline.

Subsidiaries and Digital Innovations

ICICI Bank's subsidiaries, including ICICI Prudential Life Insurance and ICICI Lombard General Insurance, also reported strong performances. Additionally, the bank launched DigiEase, a platform aimed at streamlining business banking customer onboarding, and upgraded its retail lending platform iLens to enhance customer experience and operational efficiency.