ICICI Bank has reported a 15% increase in standalone net profit to ₹11,792 crore in the third quarter ended December 2024, up from ₹10,272 crore in the same period last year. The bank’s shares reacted positively to this news, trading up 1.80% at ₹1,231 on NSE as of Monday morning.
The bank’s strong performance was fueled by a 9% increase in net interest income, reaching ₹20,371 crore, and a 16% growth in other income to ₹7,068 crore. The results were also supported by a write-back in deferred tax.
Maintaining strong asset quality, the bank saw gross non-performing assets (NPAs) improve to 1.96% of gross advances as of December-end 2024, down from 2.30% a year ago. Net NPAs also showed improvement, declining to 0.42% from 0.44% in the same period.
Both deposits and advances showed robust growth of around 14% year-on-year. Total deposits stood at ₹15,20,309 crore, while advances reached ₹13,14,366 crore at the end of December 2024.
The bank’s performance indicates a positive trajectory moving forward, with strong financial metrics and growth across key areas.