Private sector lender ICICI Bank on July 27 reported a net profit of Rs 11,059.1 crore for the first quarter of fiscal year 2025, 14.6 percent higher than Rs Rs 9,648.2 crore reported last year. An average estimate from 7 brokerages showed that the bank would report a net profit of Rs 10,614 crore. The bank beat market expectations.
The bank's net interest income came in at Rs 19,552.9 crore, 7.3 percent up YoY and beating market expectations of Rs 19,515 crore.
The gross non-performing asset of the lender came in at 2.15 percent. The net non-performing assets (NNPA) stood at 0.43 percent compared to 0.42 percent last year.
Shares of the bank closed for trading at Rs 1207.70 apiece on the BSE on July 26, 0.81 percent up.
ICICI Bank stated that its provisions for Q1 have increased by 3.1 percent year-on-year to Rs 1,332.2 crore. On a quarter-on-quarter basis, provisions surged by 85.4 percent.
The bank also disclosed that its slippages have risen to Rs 5,916 crore, marking a 15.1 percent increase from Rs 5,139 crore in the same period last year.
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