ICICI Bank Reports 15% Profit Growth in Q3, Net Profit Hits Rs 11,792 Cr

ICICI Bank, on January 25, reported 15% rise in standalone net profit at Rs 11,792 crore for the third quarter ended December 2024.

The second-largest private sector lender had earned a net profit of Rs 10,272 crore in the same quarter a year ago.

Total income increased to Rs 48,368 crore from Rs 42,792 crore in the same period a year ago, ICICI Bank said in a regulatory filing.

Interest income increased to Rs 41,300 crore during the quarter under review as compared to Rs 36,695 crore in the year-ago period.

Read More: ICICI Bank Reports 14.5% Profit Growth in Q2, Net Profit Hits Rs 11,746 Crore

On the asset quality front, the bank's gross non-performing assets ratio improved to 1.96% as against 2.3% a year ago.

Similarly, net NPAs, or bad loans, came down to 0.42 per cent from 0.44% at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax increased to Rs 1,227 crore during the quarter from Rs 1,049 crore a year ago.

Provision coverage ratio on non-performing loans was 78.2% as on December 31, 2024.

Capital Adequacy Ratio rose to 14.71% from 14.61% at the end of the third quarter of the previous financial year.