Ahead of ICICI Bank’s Q4 results, here is how the lender performed in last three quarters of FY24
Upstox
2 min read • Updated: April 26, 2024, 8:22 PM
Summary
As markets await ICICI Bank’s earnings report for the quarter and full financial year ended March 31, 2024, here’s a recap of how the country’s second-largest private lender fared during the past three quarters of FY24.
India's second-largest private lender ICICI bank will release its Q4 results on Saturday, April 27.
Market observers and investors are keeping a watch on the lender ahead of the March quarter results. According to experts, the net interest income (NII) is expected to remain moderate due to a reduction in net interest margin (NIM) quarter-on-quarter.
Shares of ICICI Bank Ltd closed 0.27% lower at ₹1,110.75 apiece on the NSE on Friday.
As markets await ICICI Bank’s earnings report for the quarter and full financial year ended March 31,2024, here’s a recap of how the country’s second-largest private lender fared during the past three quarters of FY24.
NPA ratio (Non-Performing Assets)
The net NPA ratio was at 0.44% as of December 31, 2023, slightly up from 0.43% in the September quarter. The gross NPA ratio experienced a decline to 2.3% from 2.48% reported in Q2FY24.
In the June quarter the bank’s NPA ratio stood at 0.48% while the gross NPA ratio was 2.48%.
Net Profit
The bank’s profit before tax (PAT) in Q3FY24 surged 23.6% YoY, amounting to ₹10,272 crore. In the September quarter the lender’s net profit stood at ₹10,261 crore.
In the June quarter of FY24, ICICI Bank reported a net profit of ₹9,648 crore, a 39.7% YoY growth from ₹6,905 crore in Q1FY23.
Also Read: How to trade in ICICI Bank ahead of its Q4 results?
Net Interest Income (NII)
The net interest income grew by 13.4% YoY to ₹18,678 crore in March quarter from ₹16,465 crore in Q3FY23. The bank reported 23.8% YoY growth in NII at ₹18,308 crore in Q2FY24.
In the first quarter of FY 2023-24 the bank’s NII stood at ₹18,227 crore.
Net Interest Margin (NIM)
In the third quarter of FY24, the bank’s net interest margin stood at 4.43%, reflecting a marginal QoQ drop from 4.53% in Q2FY24. The bank’s NIM in the June quarter stood at 4.78%
CASA Ratio
The average current account and savings account (CASA) ratio in Q4FY24 was 39.4%, a marginal drop from 40.8% in Q2FY24. In the June quarter the CASA ratio stood at 42.6%.