ICICI Bank’s Q2 Financial Results: A Detailed Overview
ICICI Bank Share: ICICI Bank, one of the major financial institutions in India, has released its financial results for the second quarter of the current fiscal year. Here’s a breakdown of the bank’s performance and the key metrics:
- ICICI Bank Share Net Profit: ICICI Bank reported a robust increase in its net profit, growing by 36%. The profit stands at INR 10,261 crore, up from INR 7,557.08 crore recorded during the same quarter of the previous year.
- ICICI Bank Share Net Interest Income (NII): The bank witnessed a year-on-year growth of 24% in its NII, reaching INR 18,308 crore. This is a significant jump from INR 14,786.08 crore reported a year ago.
- Stock Performance: On October 20, 2023, ICICI Bank’s share price closed at INR 934 on the National Stock Exchange (NSE), reflecting a marginal decline of 0.19%.
- Total Revenue: The bank’s total revenue for the quarter increased by 31%, amounting to INR 40,697 crore.
- Provisioning: Provisions for bad loans dropped sharply to INR 583 crore, compared to INR 1,645 crore from the same period a year ago.
- ICICI Bank Share NPA Ratios: The Gross Non-Performing Assets (NPA) ratio stood at 2.48%, which is a decrease from 3.19% a year ago and 2.76% from the previous quarter.
- Capital Adequacy Ratio: As of September, the bank reported a capital adequacy ratio of 16.07%, slightly down from 16.71% in the previous quarter.
- Operational Income: The bank saw an increase in its operational income, growing to INR 9,855.3 crore from INR 8,161.36 crore a year ago.
- NPA Coverage Ratio: The provision coverage ratio for NPAs was at 82.6% by the end of September.
- Deposits: The bank reported a 18.8% annual growth in its total period-end deposits, reaching INR 12,94,742 crore.
- Current and Savings Account Ratio: The average CASA ratio for the quarter stood at 40.8%.
- Domestic Loan Portfolio: By the end of September 2023, the bank’s domestic loan portfolio saw an annual growth of 19.3%, amounting to INR 10,74,206 crore.
Stock Overview: Over the last six months, the bank’s share price has seen an uptick, with nearly 3% growth.
The results showcase ICICI Bank’s strong financial position and its ability to maintain profitability amidst challenging market conditions.
