ICICI Bank Limited released its July-September quarterly results on Saturday, October 26. In a filing to the BSE, the bank reported a 14.47% increase in net profit, reaching ₹11,745.88 crore for the second quarter of the 2024-25 financial year, compared to ₹10,261 crore in the same quarter the previous year, based on its standalone financial statements.
ICICI Bank shares ended Friday’s trading session up by 0.23%, closing at ₹1,255.50, compared to ₹1,252.60 at the prior market close.
The Mumbai-based banking giant reported a 16.08% increase in interest income, reaching ₹40,537.38 crore in the second quarter of the 2024-25 financial year, compared to ₹34,920.39 crore in the same quarter the previous year, according to the statements.
The bank’s income from investment activities increased by 18.38% to ₹8,311.33 crore in the July-September quarter of the current financial year, up from ₹7,020.31 crore in the same period last year.
Gross non-performing assets (NPA) dropped by 51 basis points to 1.97% in the second quarter, down from 2.48% in the same quarter the previous year. Meanwhile, net non-performing assets (NPA) rose to ₹5,685.14 crore from ₹5,046.47 crore.
The lender’s highest revenue contributions came from its retail banking and treasury segments. Revenue from the retail banking segment rose by 17.14% to ₹38,750.86 crore in the July-September quarter, up from ₹33,080.02 crore in the same quarter last year. Additionally, the bank’s digital banking segment saw a 31.49% increase, reaching ₹10,051 crore in the second quarter, compared to ₹7,644.09 crore year-on-year.
CEO’s Comment:
The CEO of ICICI Bank highlighted, “We are pleased with our Q2 performance, which reflects the bank’s commitment to growth and stability. Our strategic focus on customer-centric solutions and digital transformation has enabled us to meet evolving market demands and deliver value to our stakeholders.”
Future Outlook:
ICICI Bank remains optimistic about sustained growth in the coming quarters, driven by digital innovation and an expanding portfolio across retail and corporate sectors. The bank aims to strengthen its footprint further through strategic partnerships and investment in technology.
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