ICICI Bank's profit after tax surges 30% to Rs 5,511 crore in Q2

ICICI Bank announced its quarter ended September 30, 2021 results today. The Bank's profit after tax surged by 30% y-o-y to Rs 5,511 crore in Q2 2022. 

Net interest income grew by 25% year on year. Net interest margin surged by 4%. The Core operating profit, profit before provisions and tax, excluding treasury income, grew by 23% year-on-year to Rs 9518 crore in the quarter ended September 30, 2021. 

Total deposits grew by 17% year-on-year to Rs 977,449 crore (US$ 131.7 billion) on September 30, 2021. Around 28% year-on-year growth in average current and savings account (CASA) deposits in Q2-2022; average CASA ratio
was 44% in Q2-2022. 

The domestic loan portfolio grew by 19% year-on-year, net NPA ratio declined from 1.16% on June 30, 2021 to 0.99% on September 30, 2021, the lowest since December 31, 2014. The provision coverage ratio was 80.1% on September 30, 2021.

The net NPA ratio declined from 1.16% on June 30, 2021 to 0.99% on September 30, 2021, the lowest since December 31, 2014. Provision coverage ratio was 80.1% on September 30, 2021, and total capital adequacy ratio was 19.52% and Tier-1 capital adequacy ratio was 18.53% on a standalone basis at September 30, 2021 (including profits for the six months ended September 30, 2021 (H1-2022).

The Board of Directors of ICICI Bank Limited at its meeting held in Mumbai today, approved the standalone and consolidated accounts of the Bank for the quarter ended September 30, 2021 (Q2-2022). The statutory auditors have conducted a limited review and have issued an unmodified report on the standalone and consolidated financial statements for the quarter ended Q2-2022.

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