| • Profit before tax excluding treasury grew by 7.9% year-on-year to ₹ 14,810 crore (US$ 1.8 billion) in the quarter ended September 30, 2024 (Q2-2025) |
| • Core operating profit grew by 12.1% year-on-year to ₹ 16,043 crore (US$ 1.9 billion) in Q2-2025 |
| • Excluding dividend income from subsidiaries/associates, core operating profit grew by 13.4% year-on-year in Q2-2025 |
| • Profit after tax grew by 14.5% year-on-year to ₹ 11,746 crore (US$ 1.4 billion) in Q2-2025 |
| • Total period-end deposits grew by 15.7% year-on-year to ₹ 14,97,761 crore (US$ 178.7 billion) at September 30, 2024 |
| • Average deposits grew by 15.6% year-on-year to ₹ 14,28,095 crore (US$ 170.4 billion) at September 30, 2024 |
| The average current account and savings account (CASA) ratio was 38.9% in Q2-2025 |
| • Domestic loan portfolio grew by 15.7% year-on-year to ₹ 12,43,090 crore (US$ 148.3 billion) at September 30, 2024 |
| • Net NPA ratio was 0.42% at September 30, 2024, compared to 0.43% at June 30, 2024 |
| • Provisioning coverage ratio on non-performing loans was 78.5% at September 30, 2024 |
| • Including profits for the six months ended September 30, 2024 (H1-2025), the total capital adequacy ratio was 16.66% and the CET-1 ratio was 15.96% on a standalone basis on September 30, 2024 |
| The Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held in Mumbai today, approved the standalone and consolidated accounts of the Bank for the quarter ended September 30, 2024 (Q2- 2025). The statutory auditors have conducted a limited review and issued an unmodified report on the standalone and consolidated financial statements for the September 30, 2024 quarter. |
| Profit & loss account |
| • Profit before tax excluding treasury grew by 7.9% year-on-year to ₹ 14,810 crore (US$ 1.8 billion) in Q2-2025 from ₹ 13,731 crore (US$ 1.6 billion) in the quarter ended September 30, 2023 (Q2-2024) |
| • Core operating profit grew by 12.1% year-on-year to ₹ 16,043 crore (US$ 1.9 billion) in Q2-2025 from ₹ 14,314 crore (US$ 1.7 billion) in Q2-2024 |
| • Net interest income (NII) increased by 9.5% year-on-year to ₹ 20,048 crore (US$ 2.4 billion) in Q2-2025 from ₹ 18,308 crore (US$ 2.2 billion) in Q2-2024 |
| • The net interest margin was 4.27% in Q2-2025 compared to 4.36% in Q1-2025 and 4.53% in Q2-2024 |
| • Non-interest income, excluding treasury, increased by 10.8% year-on-year to ₹ 6,496 crore (US$ 775 million) in Q2-2025 from ₹ 5,861 crore (US$ 699 million) in Q2-2024 |
| • Fee income grew by 13.3% year-on-year to ₹ 5,894 crore (US$ 703 million) in Q2-2025 from ₹ 5,204 crore (US$ 621 million) in Q2-2024. Fees from retail, rural and business banking customers constituted about 78% of total fees in Q2-2025 |
| • Treasury gains were ₹ 680 crore (US$ 81 million) in Q2-2025 as compared to a treasury loss of ₹ 85 crore (US$10 million) in Q2-2024 reflecting realised and mark-to-market gains in equity and fixed income securities |
| • Provisions (excluding provision for tax) were ₹ 1,233 crore (US$ 147 million) in Q2-2025 compared to ₹ 583 crore (US$ 70 million) in Q2-2024 and ₹ 1,332 (US$ 159 million) in Q1-2025 |
| • Profit before tax grew by 13.5% year-on-year to ₹ 15,490 crore (US$ 1.8 billion) in Q2-2025 from ₹ 13,646 crore (US$ 1.6 billion) in Q2-2024 |
| • Profit after tax grew by 14.5% year-on-year to ₹ 11,746 crore (US$ 1.4 billion) in Q2-2025 from ₹ 10,261 crore (US$ 1.2 billion) in Q2-2024 |
| Credit growth |
| The Bank has revised the presentation of loans to reflect a consolidated view of the business banking portfolio. This comprises all borrowers with a turnover of up to ₹ 750 crore (US$ 90 million), which was earlier reflected in the reported SME and business banking portfolios, rural business credit forming part of the rural portfolio, dealer funding forming part of the retail portfolio and lending to mid-corporates forming part of the corporate portfolio. Over the past few years, the Bank has seen healthy loan growth in this category and has adopted an integrated approach to coverage, credit and delivery to these customers. Aligning with the same, the Bank will report the retail, rural, business banking, and corporate portfolios on this revised basis. |
| The net domestic advances grew by 15.7% year-on-year and 4.6% sequentially on September 30, 2024. The retail loan portfolio grew by 14.2% year-on-year and 2.9% sequentially and comprised 53.0% of the total loan portfolio on September 30, 2024. Including non-fund outstanding, the retail portfolio was 44.9% of the total portfolio at September 30, 2024. The business banking portfolio grew by 30.0% year-on-year and 10.7% sequentially on September 30, 2024. The rural portfolio grew by 16.5% year-on-year and 1.7% sequentially on September 30, 2024. The domestic corporate portfolio grew by 11.8% year-on-year and 4.9% sequentially on September 30, 2024. Total advances increased by 15.0% year-on-year and 4.4% sequentially to ₹ 12,77,240 crore (US$ 152.4 billion) on September 30, 2024. |
| The Bank continued to enhance the use of technology in its operations to provide simplified solutions to customers. About 72% of trade transactions were done digitally in Q2-2025. The volume of transactions done through the Trade Online platform grew by 20.0% year-on-year in Q2-2025. The value of the Bank’s merchant-acquiring transactions through UPI grew by 27.9% year-on-year in Q2-2025. |
| Deposit growth |
| Total period-end deposits increased by 15.7% year-on-year and 5.0% sequentially to ₹ 14,97,761 crore (US$ 178.7 billion) on September 30, 2024. Period-end term deposits increased by 15.9% year-on-year and 5.5% sequentially to ₹ 8,89,038 crore (US$ 106.1 billion) on September 30, 2024. Average deposits increased by 15.6% year-on-year and 3.6% sequentially to ₹ 14,28,095 crore (US$ 170.4 billion) in Q2-2025. Average current account deposits increased by 10.8% year-on-year and 0.3% sequentially in Q2-2025. Average savings account deposits increased by 10.2% year-on-year and 2.3% sequentially in Q2-2025. |
| With the addition of 90 branches during H1-2025, the Bank had a network of 6,613 branches and 16,120 ATMs & cash recycling machines on September 30, 2024. |
| Asset quality |
| The gross NPA ratio was 1.97% at September 30, 2024, compared to 2.15% at June 30, 2024. The net NPA ratio was 0.42% at September 30, 2024, compared to 0.43% at June 30, 2024. The gross NPA additions were ₹ 5,073 crore (US$ 605 million) in Q2-2025 compared to ₹ 5,916 crore (US$ 706 million) in Q1-2025. Recoveries and upgrades of NPAs, excluding write-offs and sales, were ₹ 3,319 crore (US$ 396 million) in Q2-2025 compared to ₹ 3,292 crore (US$ 393 million) in Q1-2025. The net additions to gross NPAs, excluding write-offs and sales, were ₹ 1,754 crore (US$ 209 million) in Q2-2025 compared to ₹ 2,624 crore (US$ 313 million) in Q1-2025. The Bank has written off gross NPAs amounting to ₹ 3,336 crore (US$ 398 million) in Q2-2025. The provisioning coverage ratio on non-performing loans was 78.5% at September 30, 2024. |
| Excluding NPAs, the total fund-based outstanding to all borrowers under resolution as per the various extant regulations/guidelines declined to ₹ 2,546 crore (US$ 304 million) or 0.2% of total advances on September 30, 2024, from ₹ 2,735 crore (US$ 326 million) at June 30, 2024. The Bank holds provisions amounting to ₹ 812 crore (US$ 97 million) against these borrowers under resolution, as of September 30, 2024. In addition, the Bank continues to hold contingency provisions of ₹ 13,100 crore (US$ 1.6 billion) on September 30, 2024. |
| In line with the revised presentation of a composite edition of the loan portfolio, the Bank will follow the BB and below corporate portfolio from the current quarter onwards. The loan and non-fund based outstanding to performing corporate borrowers rated BB and below was ₹ 3,386 crore (US$ 404 million) aonSeptember 30, 2024 compa, red to ₹ 4,164 crore (US$ 49USillion) on June 30, 2024. |
| Capital adequacy |
| Including profits for the six months ended September 30, 2024 (H1-2025), the Bank’s total capital adequacy ratio on September 30, 2024, was 16.66% and the CET-1 ratio was 15.96% compared to the minimum regulatory requirements of 11.70% and 8.20% respectively. |
| Consolidated results |
| The consolidated profit after tax increased by 18.8% year-on-year to ₹ 12,948 crore (US$ 1.5 billion) in Q2-2025 from ₹ 10,896 crore (US$ 1.3 billion) in Q2-2024. |
| Consolidated assets grew by 18.4% year-on-year to ₹ 25,16,512 crore (US$ 300.3 billion) on September 30, 2024, from ₹ 21,24,850 crore (US$ 253.6 billion) on September 30, 2023. |
| Key subsidiaries |
| The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was ₹ 4,467 crore (US$ 533 million) in H1-2025 as compared to ₹ 3,523 crore (US$ 420 million) in H1-2024. Value of New Business (VNB) of ICICI Life increased year-on-year by 4.2% to ₹ 1,058 crore (US$ 126 million) in H1-2025 compared to ₹ 1,015 crore (US$ 121 million) in H1-2024. The VNB margin was 23.7% in H1-2025 compared to 24.6% in FY2024. The profit after tax increased to ₹ 252 crore (US$ 30 million) in Q2-2025 from ₹ 244 crore (US$ 29 million) in Q2-2024. |
| The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) increased by 10.4% year-on-year to ₹ 6,721 crore (US$ 802 million) in Q2-2025 from ₹ 6,086 crore (US$ 726 million) in Q2-2024. The combined ratio stood at 104.5% in Q2-2025 compared to 103.9% in Q2-2024. The profit after tax of ICICI General increased by 20.2% to ₹ 694 crore (US$ 83 million) in Q2-2025 from ₹ 577 crore (US$ 69 million) in Q2-2024. |
| The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, increased to ₹ 694 crore (US$ 83 million) in Q2-2025 from ₹ 501 crore (US$ 60 million) in Q2-2024. |
| The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, increased to ₹ 529 crore (US$ 63 million) in Q2-2025 from ₹ 424 crore (US$ 51 million) in Q2-2024. |
| For the full document click the link below: |
| ICICI Bank |
| Stay ahead of the curve! Subscribe to InsidEntity for daily updates on all your favourite companies. |
