On July 27, ICICI Bank announced a net profit of Rs 11,059.1 crore for the first quarter of fiscal year 2025, marking a 14.6% increase from the Rs 9,648.2 crore reported in the same period last year. This exceeded the average estimate of Rs 10,614 crore projected by seven brokerages.
The bank’s net interest income for the quarter was Rs 19,552.9 crore, up 7.3% year-on-year and surpassing market expectations of Rs 19,515 crore.
ICICI Bank’s gross non-performing assets (NPAs) stood at 2.15%, while net non-performing assets (NNPA) were 0.43%, slightly higher than the 0.42% reported last year.
Shares of ICICI Bank closed at Rs 1,207.70 on the BSE on July 26, up 0.81%.
The bank reported a 3.1% increase in provisions for Q1, totaling Rs 1,332.2 crore, with a significant quarter-on-quarter rise of 85.4%. Additionally, slippages rose to Rs 5,916 crore, a 15.1% increase from Rs 5,139 crore in the same quarter last year.
