ICICI Bank has announced a 15% increase in standalone net profit to ₹11,792 crore for the third quarter ending December 2024, up from ₹10,272 crore in the same period last year. Following this news, the bank’s shares rose by 1.80% to trade at ₹1,231 on NSE on Monday morning.
The bank’s strong performance was driven by a 9% rise in net interest income to ₹20,371 crore and a 16% growth in other income to ₹7,068 crore. Additionally, a write-back in deferred tax further supported the results.
In terms of asset quality, ICICI Bank maintained a robust position with gross non-performing assets (NPAs) improving to 1.96% of gross advances from 2.30% a year ago. Net NPAs also decreased to 0.42% from 0.44% in the same period.
Both deposits and advances saw healthy growth of around 14% year-on-year, with total deposits amounting to ₹15,20,309 crore and advances reaching ₹13,14,366 crore by the end of December 2024.
Overall, ICICI Bank’s positive financial results for the third quarter reflect its strong performance and continued growth in key financial metrics.
