ICICI Bank share price up over 1% after bank reports 16% rise in Q4 net profit; check key numbers

ICICI Bank shares jumped during the morning session on Monday, April 21, after the lender reported a 15.7% jump in its consolidated net profit to ₹13,502 crore for the January-March quarter of 2024-25.

On a standalone basis, India’s second-largest private sector lender's net profit for the March quarter came in at ₹12,630 crore, up 18% against ₹10,708 crore in the year-ago period.

The stock was one of the biggest contributor on the NIFTY Bank index, which touched its record high. Shares of the bank touched its 52-week high of ₹1,436 apiece, during the session.

The core net interest income grew 11% to ₹21,193 crore from the year-ago period's ₹19,093 crore on the back of a 13.3% increase in loans and an expansion in the net interest margin to 4.41% from 4.40% in the year-ago period.

Speaking with reporters, its executive director Sandeep Batra hinted that the NIM may come under pressure going ahead because of RBI's rate cuts, pointing out that 53 per cent of its loan loanbook is linked to the repo rate, and added that all the transmission will happen in about three months.

He added that the bank will continue to look at ways to expand the margin through changes in loan product mix.

In line with the system, which was forced to go slow on the riskier unsecured assets by the RBI, the bank's credit card and personal loan growth also slowed down, Batra said, attributing it as a major factor restricting the overall retail credit growth.

The overall retail asset slippages came at ₹4,300 crore for the reporting quarter, Batra said. He said that the delinquencies in the unsecured assets, which form 13% of the bank's book now, have been elevated in the last year.

Replying to questions on credit growth outlook, he said the bank will continue to look at ways to expand credit from a risk-adjusted perspective.

The savings account interest rate cut of 0.25 percentage points was in response to what is happening on the policy side, he said.

He said the share of the low-cost current and savings account deposits has been stable at 38.4% and added that the bank is not targeting any level on this front.

The bank will be adding 400 branches in the new year, he said, adding that the overall deposit growth is 14%.

The non-interest income excluding treasury increased 18.4% to ₹7,021 crore.

Provisions came at ₹891 crore in the March quarter as against ₹718 crore in the year-ago period.

The gross non-performing assets ratio improved to 1.67% at the end of March, from 1.96% in December 2024.

The total capital adequacy ratio as of March 31 was 16.55% with the core buffers at 15.94%.

The bank's board has recommended a dividend of ₹11 per share.

Among its subsidiaries, the life insurance arm's net profit increased to ₹1,189 crore from ₹852 crore in the year-ago period, the general insurance arm posted a 30% growth in the number to ₹2,508 crore, and the asset management arm's jumped by over 29% to ₹2,651 crore.