ICICI Bank Q3 net profit up 25 pc on robust interest income

New Delhi, Jan 22: Private lender ICICI Bank on Saturday reported 25.38% year-on-year rise in its net profit for the quarter ending December 31, 2021 at Rs 6,194 crore.

Net profit of the bank in the third quarter (Q3) of FY21 was Rs 4,940 crore.

Net interest income, one of the key metrics of a bank’s performance, of the bank in Q3FY22 grew 23.44% to Rs 12,236 crore as compared to Rs 9,912 crore in the corresponding period of financial year 2020-21.

Total deposits of the bank grew in Q3FY22 by 16% year-on-year to Rs 10.17 lakh crore.

Gross non-performing assets (GNPAs) of the bank rose 6.28% to Rs 37,052.74 crore in Q3FY22 from Rs 34,860.43 crore in Q3FY21.

The bank’s advances witnessed 16.4% rise in the third quarter of the current fiscal to Rs 8.14 lakh crore as against Rs 6.99 lakh crore in the same period of the previous financial year.

“The net interest margin was 3.96% in Q3-2022 compared to 3.67% in Q3-2021 and 4.00% in the quarter ended September 30, 2021,” ICICI Bank said in a statement.

The bank said that its retail loan portfolio grew by 19% year-on-year and 5% sequentially, and comprised 61.3% of the total loan portfolio at December 31, 2021.

“Including non-fund outstanding, the retail loan portfolio was 51.3% of the total portfolio at December 31, 2021,” it said.