ICICI posts 34.5 pc growth in profit after tax to Rs 8,792 cr in Q3

The bank said the average current account and savings account (CASA) ratio was 44.6 per cent during the reviewed quarter
Representative image
Representative imageANI

MUMBAI: ICICI Bank on Saturday posted a surge of 34.5 per cent in its profit after tax to Rs 8,792 crore, against Rs 6,536 crore during the corresponding quarter the previous year. The bank said the average current account and savings account (CASA) ratio was 44.6 per cent during the reviewed quarter. The lender said overall loan portfolio grew by 19.7 per cent year-on-year while domestic loan portfolio grew by 21.4 per cent year-on-year.

The lender's net non-performing assets (NPA) ratio declined to 0.55 per cent at December 31, 2022, from 0.61 per cent at September 30, 2022, the bank said. The lender in a statement released on Saturday said its provisioning coverage ratio on non-performing assets was 82 per cent at December 31, 2022. Net interest income (NII) of the bank increased by 34.6 per cent year-on-year to Rs 16,465 crore during October-December quarter from Rs 12,236 crore in the year-ago period. The net interest margin was 4.65 per cent in the reviewed quarter, against 3.96 per cent during the corresponding quarter the previous year.

The lender's net interest margin (NIM) was 4.31 per cent in the quarter ended September 30, 2022. The lender said the net interest margin was 4.33 per cent during the nine months till December 2022. The non-interest income, excluding treasury income, increased by 1.8 per cent year-on-year to Rs 4,987 crore in the third quarter of the current fiscal from Rs 4,899 crore in the year-ago period.

The bank also said fee income grew 3.7 per cent year-on-year to Rs 4,448 crore in the reviewed quarter from Rs 4,291 crore in the year-ago period. Fees from retail, rural, business banking and SME customers constituted about 78 per cent of total fees during the December quarter, according to a statement shared with exchanges on Saturday.

There was a treasury gain of Rs 36 crore in the third quarter of the current fiscal compared to Rs 88 crore in the year-ago period, the bank said.

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