ICICI Bank Q2 FY22 Results: ICICI Bank reported a 29.6 per cent rise in net profit to Rs 5,511 crore on a standalone basis for the July-September quarter in the financial year 2021-22, compared to Rs 4,251.3 crore in the year-ago period. The country’s leading private sector lender reported a net NPA ratio of 0.99 per cent in the September quarter – the lowest since December 31, 2014.
ICICI Bank Q2 Results: Here’s All You Need To Know
- ICICI Bank’s core operating profit – the profit before provisions and taxes, increased 23 per cent year-on-year to Rs 9,518 crore in the second quarter of the financial year 2021-22, compared to Rs 7,719 crore in the year-ago period. (Also Read: ICICI Bank Profit Rises 78% To Rs 4,616 Crore In June Quarter, Provisions Fall )
- The private sector bank’s net interest income (NII) – or the difference between interest earned and interest paid, in the September quarter increased 25 per cent year-on-year to Rs 11,690 crore, compared to Rs 9,366 crore in the same quarter last year.
- The bank’s net non-performing assets (NPAs) were Rs 8,161 crore in the September quarter, compared to Rs 9,306 crore in the preceding April-June quarter. The net NPA ratio was 0.99 per cent by the end of September 2021, compared to 1.16 per cent by June 2021.
- The total income stood at Rs 26,030.82 crore in the September quarter, compared to Rs 23,650.77 crore in the year-ago period. The net interest margin was four per cent in the quarter, compared to 3.89 per cent in the preceding June quarter.
- ICICI Bank’s provisions (excluding provision for tax) declined nine per cent to Rs 2,714 crore in the September quarter, compared to Rs 2,995 crore in the year-ago period.
- The bank’s retail loan portfolio grew by 20 per cent year-on-year and five per cent sequentially – comprising 62.1 per cent of the total loan portfolio during the quarter. The domestic loan portfolio grew by 19 per cent year-on-year.
- ICICI Bank still holds pandemic-related provisions of Rs 6,425 crore – the same level as reported in the preceding April-June quarter, according to its statement.
- The bank partnered with Amazon India to offer instant overdraft to sellers, including non-ICICI Bank customers, on its portal. It also launched an instant overdraft facility for MSMEs registered on the GEM Sahay application through API integration with the OCEN network.
- ICICI Bank is a market leader in electronic toll collections through FASTag, as it had a market share of 37 per cent by value in the toll collections through FASTag in the September quarter, with a 63 per cent year-on-year growth in collections.
- On Friday, October 22, shares of ICICI Bank settled 0.30 per cent higher at Rs 759.10 apiece on the BSE.