ICICI Bank Q1 results: Top four highlights from the earnings report

ICICI Bank: The country's second largest private sector lender has reported a 39.7% on-year growth in standalone profit at Rs 9,648 crore for quarter ended June FY24 despite elevated provisions & contingencies. Net interest income increased by 38% on-year to Rs 18,227 crore with net interest margin expansion of 77 bps on-year at 4.78%, while loan growth was 18.1% and deposits grew by 17.9% YoY. Asset quality was stable with gross NPA falling 5 bps sequentially to 2.76% and net NPA flat at 0.48% for the quarter.

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26 Aug, 2025 12:21

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Private sector lender ICICI Bank on July 22 reported a 40 percent YoY rise in net profit at Rs 9,648 crore for the first quarter of the current financial year, which was way ahead of market expectations of Rs 8,982 crore.

Moneycontrol looks at the key highlights from the bank’s earnings report card:

Strong PAT growth

The country's second largest private lender reported a net profit of Rs 9,648 crore for the April-June FY24 quarter, up by 40 percent from Rs 6,905 crore in the same period last year, and way ahead of market expectations of Rs 8,982 crore.

The net interest income (NII) of the lender increased by 38 percent year-on-year (YoY) to Rs 18,227 crore in Q1FY24 from Rs 13,210 crore in the corresponding quarter last year.

The bank’s net interest margin (NIM) stood at 4.78 percent for the quarter compared to 4.01 percent in the same quarter last year.

Also read: ICICI Bank Q1 Results: Net profit zooms 40% to Rs 9,648 crore

Double-digit deposit growth

The bank’s total deposits grew by 18 percent YoY to Rs 12.38 lakh crore as of June 30, 2023.

Its current account and savings account (CASA) ratio for the quarter was recorded at 42.6 percent, while the average current account deposits increased by 9.2 percent YoY. Its average savings account deposits also increased by 5.6 percent YoY.

Improvement in asset quality

The lender's asset quality improved as gross non-performing assets (GNPAs) declined to 2.76 percent from 3.4 percent in the year-ago period. The net non-performing assets (NNPA) also declined to 0.48 percent from 0.70 percent during the same period last year.

Segment growth

The retail loan portfolio witnessed a growth of 22 percent YoY and comprised 54.3 percent of the total loan portfolio as of June 30, 2023.

The retail portfolio of the lender, including non-fund outstanding, was 46 percent of the total portfolio for the Q1FY24 growth.

Its business banking portfolio grew by 30.4 percent YoY, while the small, medium enterprises (SME) segment grew by 28.5 percent YoY.

The rural portfolio recorded a 17.6 percent growth on YoY basis, the domestic corporate portfolio grew by 19 percent, while the domestic corporate portfolio was up by 19.3 percent from last year.