ICICI Bank had reported a consolidated net profit of ₹13,502 crore in the year-ago period. File
| Photo Credit: Reuters

ICICI Bank.
| Photo Credit: Reuters

ICICI bank. File
| Photo Credit: Reuters

ICICI Bank on Saturday (January 25, 2025) reported a 15% rise in standalone net profit at ₹11,792 crore for the third quarter ended December 2024.

The second-largest private sector lender had earned a net profit of ₹10,272 crore in the same quarter a year ago.

“Total income increased to ₹48,368 crore from ₹42,792 crore in the same period a year ago,” ICICI Bank said in a regulatory filing.

Interest income increased to ₹41,300 crore during the quarter under review as compared to ₹36,695 crore in the year-ago period.

On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96% as against 2.3% a year ago.

Similarly, net NPAs, or bad loans, came down to 0.42% from 0.44% at the end of the third quarter last fiscal year.

However, the overall provisions, excluding tax increased to ₹1,227 crore during the quarter from ₹1,049 crore a year ago.

The provision coverage ratio on non-performing loans was 78.2% as on December 31, 2024.

Capital Adequacy Ratio rose to 14.71% from 14.61% at the end of the third quarter of the previous financial year.

From the 30 Sensex pack, ICICI Bank climbed nearly 3% after the private sector lender posted a 14.5% growth in standalone profit to ₹11,746 crore for the second quarter ended September-2024. File
| Photo Credit: Reuters

Equity markets rebounded in early trade on Monday (October 28, 2024), driven by buying in the stock of blue-chip ICICI Bank, firm trends in Asian peers and continuous buying by domestic institutional investors.

The Bombay Stock Exchange (BSE) Sensex jumped 462.45 points to 79,864.74 in early trade. The National Stock Exchange (NSE) Nifty climbed 112.1 points to 24,292.90.

From the 30 Sensex pack, ICICI Bank climbed nearly 3% after the private sector lender posted a 14.5% growth in standalone profit to ₹11,746 crore for the second quarter ended September-2024.

State Bank of India, IndusInd Bank, Infosys, HCL Technologies, Asian Paints and Hindustan Unilever were the other big gainers from the pack.

JSW Steel, Larsen & Toubro, Power Grid and ITC were among the laggards. In Asian markets, Seoul, Tokyo and Shanghai were trading higher, while Hong Kong quoted lower.

The U.S. markets ended on a mixed note on Friday (October 25, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,036.75 crore on Friday (October 25, 2024), while Domestic Institutional Investors (DIIs) bought shares worth ₹4,159.29 crore, according to exchange data.

Global oil benchmark Brent crude eased 4.38% to $72.72 a barrel.

The BSE benchmark plummeted 662.87 points, or 0.83%, to settle at 79,402.29 on Friday (October 25, 2024). The Nifty tanked 218.60 points, or 0.90%, to 24,180.80.

Vijayawada:

Account holders in three branches of ICICI Bank in Andhra Pradesh’s Palnadu and NTR districts have lost about Rs 28 crore.

The Crime Investigation Department (CID) is investigating that 72 account holders in the Chikaluripet and Narsaraopet branches in the Palnadu district and Vijayawada branch in the NTR district lost their fixed deposits and gold.

CID Additional Superintendent of Police Adinarayana said they took up the investigation on a complaint by Vijayawada Zonal Officer of the bank.

The CID officials were questioning some bank employees and looking into their role in the alleged diversion of funds from the accounts.

The scam came to light when account holders approached their respective bank branches as the interest on the fixed deposit was not credited to their accounts for the last two months. They were shocked when the bank officials informed them that their fixed deposit bonds were no longer valid.

The victims lodged a complaint with the police, which registered a case and transferred the same to CID for investigation.

ICICI Bank Zonal Officer in Vijayawada also approached the CID, seeking an investigation.

The CID received the complaint that one Naresh Chandrasekhar, who had worked as manager in Chilkaluripet, Narsaraopet, and Vijayawada branches of ICICI Bank, allegedly diverted the FDs. Some customers who had deposited cheques were also cheated.

“There are three to four categories of customers who were cheated. We are recording their statements,” the CID official said.

He said the irregularities had come to the notice of the bank authorities in July this year and Naresh was suspended. The bank had taken up a departmental inquiry against him.

The CID has sought reports of the inquiry conducted by the bank officials. He hoped that they would achieve a breakthrough in the case in 2-3 days.

Chilkaluripet MLA P. Pulla Rao assured support to the account holders. He requested the Bank officials to do justice to the victims.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Exchange Data said that FIIs bought equities worth ₹2,208.23 crore on Tuesday (September 10, 2024). File
| Photo Credit: Reuters

Equity benchmark indices declined in early trade on Wednesday (September 11, 2024) after two days of gains amid selling in Tata Motors and weak trends in Asian markets.

The 30-share BSE Sensex fell 111.85 points to 81,809.44. The NSE Nifty dipped 39.2 points to 25,001.90.

Among the 30 Sensex firms, Tata Motors, ICICI Bank, Titan, HDFC Bank, JSW Steel, Tech Mahindra, UltraTech Cement and Axis Bank were the major laggards.

Asian Paints, Bharti Airtel, ITC and Hindustan Unilever were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended mostly with gains on Tuesday (September 10, 2024).

Foreign Institutional Investors (FIIs) bought equities worth ₹2,208.23 crore on Tuesday (September 10, 2024), according to exchange data.

Global oil benchmark Brent crude climbed 0.59% to $69.60 a barrel.

The BSE benchmark climbed 361.75 points or 0.44% to settle at 81,921.29 on Tuesday (September 11, 2024). The NSE Nifty surged 104.70 points or 0.42% to 25,041.10.

ICICI Bank on July 27 reported 9.96% increase in June quarter consolidated net profit at ₹11,695.84 crore. The company had logged a profit of ₹10,636.12 crore in the same period of 2023-24.
| Photo Credit: Reuters

ICICI Bank on July 27 reported 9.96% increase in June quarter consolidated net profit at ₹11,695.84 crore.

The company had logged a profit of ₹10,636.12 crore in the same period of 2023-24.

On a standalone basis, the country’s second-largest private sector lender reported 14.62% rise in profit at ₹11,059 crore as against ₹9,648.2 crore in the year-ago period.

Total income rose to ₹45,998 crore in April-June FY25 from ₹38,763 crore a year ago, as per an exchange filing by the lender.

Expenses jumped to ₹29,973 crore from ₹24,624 crore.

Overall provisions came in at ₹1,332.18 crore as against ₹1,292.44 crore for the year-ago period, and ₹718.49 crore in the March quarter.

Gross non-performing assets ratio was stable at 2.36% as on June 30, 2024.

A bird flies past the facade of the ICICI bank head office in Mumbai.
| Photo Credit: REUTERS

Private sector lender ICICI Bank on April 27 said its March 2024 quarter consolidated net grew 18.5% to ₹11,672 crore.

It had reported a net profit of ₹9,853 crore in the year-ago period.

On a standalone basis, the second largest private sector lender showed a 17.4% growth in its profit after tax at ₹10,708 crore for the reporting quarter against ₹9,122 crore in the year-ago period.

The core net interest income increased 8.1% to ₹19,093 crore on a 16.8% growth in loans and a marginal compression in net interest margin to 4.40%.

The non-interest income, excluding the performance of the treasury, came at ₹5,930 crore, 15.7% higher than the year-ago period.

The provisions more than halved to ₹718 crore for the reporting quarter, as per the exchange filing by the lender.

The Mumbai-based lender had posted a net profit of ₹7,558 crore in the year-ago period.
| Photo Credit: REUTERS

Private sector lender ICICI Bank on Saturday reported a 36% rise in standalone net profit to ₹10,261 crore for the September 2023 quarter, aided by an improvement in interest income.

The Mumbai-based lender had posted a net profit of ₹7,558 crore in the year-ago period.

The total income in the second quarter of the current fiscal rose to ₹40,697 crore from ₹31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing.

Interest earned by the bank improved to ₹34,920 crore from ₹26,033 crore in the September 2022 quarter.

Its net interest income (NII) increased by 24% year-on-year to ₹18,308 crore in the quarter against ₹14,787 crore in the corresponding quarter a year ago.

At the same time, the net interest margin rose to 4.53% compared to 4.31% in the same period a year ago.

The bank’s asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.48% of gross advances at the end of the September quarter from 2.76% a year ago.

Similarly, its net NPAs or bad loans declined to 0.43% against 0.61% in the year-ago period.

However, the bank’s capital adequacy ratio decreased to 16% from 16.93% at the end of September 2022.

On a consolidated basis, the bank’s profit increased by 36% to ₹10,896 crore in the quarter from ₹8,007 crore a year ago.