ICICI Bank Q3 net jumps 34% to ₹8,312 crore, buoyed by growth in loans, net interest income
The Hindu
Lender’s overall loan portfolio grew by 19.7% with retail loans expanding by 23.4%; gross NPA ratio declined to 3.07% as on December 31, from 3.19% at September 30
ICICI Bank reported third-quarter standalone net profit grew 34.2% year-on-year to ₹8,312 crore backed by a rise in net Interest Income (NII) and growth in its loan portfolio.
The bank’s core operating profit (profit before provisions and tax, excluding treasury income) increased 31.6% to ₹13,235 crore. NII rose 34.6% to ₹16,465 crore. The net interest margin widened to 4.65%, from 3.96% in the year-earlier period.
Overall loan portfolio grew by 19.7% year-on-year, with the domestic loan portfolio expanding by 21.4%.
Provisions (excluding provision for tax) rose 12.5% to ₹2,257 crore. “During the quarter, the bank has changed its provisioning norms on non-performing assets to make them more conservative,” Executive Director Sandeep Batra said on a conference call . “This change resulted in higher provisions amounting to ₹1,196 crore in Q3-2023,” he added.
“Provisions for Q3-2023 also include contingency provision of ₹1,500 crore made on a prudent basis,” he noted.
The retail loan portfolio grew by 23.4% and comprised 54.3% of the total loan portfolio at December 31, 2022.
Total advances increased by 19.7% year-on-year and 3.8% sequentially to ₹9,74,047 crore.
RBI to launch a two-month campaign in January 2026 to address pending grievances with the Ombudsman for improved customer service.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.