ICICI Bank net profit surges 15% to Rs 11,792 cr in December quarter

ICICI Bank's gross non-performing assets ratio improved to 1.96 per cent as against 2.3 per cent a year ago

New Delhi: ICICI Bank on Saturday reported 15 per cent rise in standalone net profit at Rs 11,792 crore for the third quarter ended December 2024.

The second-largest private sector lender had earned a net profit of Rs 10,272 crore in the same quarter a year ago.

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Total income increased to Rs 48,368 crore from Rs 42,792 crore in the same period a year ago, ICICI Bank said in a regulatory filing.

Interest income increased to Rs 41,300 crore during the quarter under review as compared to Rs 36,695 crore in the year-ago period.

On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96 per cent as against 2.3 per cent a year ago.

Similarly, net NPAs, or bad loans, came down to 0.42 per cent from 0.44 per cent at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax increased to Rs 1,227 crore during the quarter from Rs 1,049 crore a year ago.

Provision coverage ratio on non-performing loans was 78.2 per cent as on December 31, 2024.

Capital Adequacy Ratio rose to 14.71 per cent from 14.61 per cent at the end of the third quarter of the previous financial year.