ICICI Bank Posts Robust 9.96% Increase in June Quarter Net Profit

ICICI Bank reported a 9.96% increase in its consolidated net profit for the June quarter, reaching Rs 11,695.84 crore. The standalone profit rose by 14.62% to Rs 11,059 crore. Total income grew to Rs 45,998 crore, while expenses increased to Rs 29,973 crore. Gross non-performing assets ratio remained stable at 2.36%.

ICICI Bank on Saturday reported a 9.96 per cent increase in its consolidated net profit for the June quarter, amounting to Rs 11,695.84 crore. This performance marks a significant improvement over the Rs 10,636.12 crore profit recorded in the same period of 2023-24.

On a standalone basis, ICICI Bank, the country's second-largest private sector lender, saw a 14.62 per cent rise in profit, reaching Rs 11,059 crore compared to Rs 9,648.2 crore a year earlier. The bank's total income surged to Rs 45,998 crore in the April-June FY25 period from Rs 38,763 crore the previous year, according to an exchange filing.

However, expenses also rose, climbing to Rs 29,973 crore from Rs 24,624 crore. Despite this, the bank managed to keep its gross non-performing assets ratio stable at 2.36 per cent as of June 30, 2024. Overall provisions stood at Rs 1,332.18 crore, up from Rs 1,292.44 crore in the same quarter last year and Rs 718.49 crore in the March quarter.

(With inputs from agencies.)