ICICI Bank Results Q2 FY2023, Net Profit at Rs. 7558 crores

Shreya Anaokar 12th December 2022 - 01:34 pm

On 22nd October 2022, ICICI Bank announced its second quarter results for the period ending 30th September 2022.

Q2FY23 Performance updates:

- Net interest income (NII) increased by 26% YoY to Rs. 14,787 crore
- The net interest margin was 4.31% in Q2-2023
- The core operating profit (profit before provisions and tax, excluding treasury income) increased by 24% YoY to Rs. 11,765 crore
- The profit before tax grew by 39% YoY to Rs. 10,036 crore
- The profit after tax grew by 37% YoY to Rs. 7,558 crore

Business Highlights:

- The retail loan portfolio grew by 25% YoY and comprised 54% of the total loan portfolio.
- The business banking portfolio grew by 43% YoY
- The SME business, comprising borrowers with a turnover of less than Rs. 250 crores, grew by 27% YoY.
- The domestic corporate portfolio grew by 23% YoY
- The rural portfolio grew by 12% YoY.
- The domestic advances grew by 24% YoY. Total advances increased by 23% YoY to Rs. 938,563 crores.
- Total period-end deposits increased by 12% YoY to Rs. 1,090,008 crores.
- Average current account and savings account deposits increased by 16% YoY in Q2FY23. Period-end term deposits increased by 11% YoY to Rs. 582,168 crores
- The Bank had a network of 5,614 branches and 13,254 ATMs.
- The gross NPA ratio declined to 3.19% at September 30, 2022 from 3.41% at June 30, 2022 and 4.82% at September 30, 2021. The net NPA ratio declined to 0.61% at September 30, 2022 from 0.70% at June 30, 2022 and 0.99% at September 30, 2021.
- Bank’s total capital adequacy ratio was 18.27% and Tier-1 capital adequacy was 17.51% compared to the minimum regulatory requirements of 11.70% and 9.70% respectively.

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Shreya Anaokar

Disclaimer: Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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