ICICI Bank Q2 net profit grows six-fold YoY to Rs 4,251.3 crore, NII at Rs 9,366.1 crore

ICICI Bank has shown tremendous growth this year. Showcasing a splendid growth rate, the bank has achieved some great numbers. Here’s a summary:

ICICI Bank Q2 net profit grows six-fold YoY to Rs 4,251.3 crore, NII at Rs 9,366.1 crore
Net Interest Income (NII)Rs 8,057.4 CrRs. 9,366.1 Cr16.2% (YoY)
Quarterly Net ProfitRs. 655 CrRs. 4,251.3 Crsix-fold (YoY)

Other Valuable Figures:

  • The bank has posted a net interest margin at 3.57 percent against 3.69 percent in the previous quarter QoQ.
  • Gross non-performing assets (NPA) for the quarter stood at 5.2 percent versus 5.5 percent and the net NPA was at 1 percent versus 1.2 percent, QoQ.
  • Domestic loans grew by 10 percent YoY and 4 percent QoQ, while retail loans grew by 13 percent  YoY and 6 percent QoQ.
  • Auto loan continued to increase from June 2020 and reached pre-Covid levels in September 2020, reflecting the rise in passenger car sales
  • Disbursements across the rural portfolio crossed pre-Covid levels in August and September 2020. Credit card spending recovered to about 85 percent of pre-Covid levels in September 2020 led by increased spends in health and wellness, electronics and e-commerce
  • The provisions stood at Rs 2,995.3 crore against Rs 7,594 crore, QoQ and Rs 2,506.9 crore, YoY. Additionally, COVID-19 related provisions were at Rs 8,772 crore as on September 30, 2020.
  • The provision coverage ratio increased from 78.6 percent on June 30 to 81.5 percent on September 30.
  • Deposits grew by 20 percent YoY to Rs 832,936 crore, while there was a 17 percent growth in average current and savings account (CASA) deposits in Q22021. The average CASA ratio was 40.3 percent in Q2 2021.
  • The bank’s term deposits grew by 26 percent YoY as on September 30, 2020.

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