ICICI Bank Q1 Profit Up 16%

ICICI Bank Q1 Profit Up 16% as Provisions Drop 30.5%

ICICI Bank, India's second‑largest private lender by market value, posted a 16 % year‑on‑year increase in standalone net profit for the April‑June quarter, rising to ₹148.05 billion from ₹127.68 billion a year earlier. Net interest income grew 12.7 % to ₹243.84 billion, propelled by a 19.6 % rise in domestic loan book and a 14 % increase in deposits. The net interest margin edged higher to 4.36 %. Provisions for bad loans declined 30.5 % YoY, aiding earnings, while other income, comprising treasury and investment gains, climbed 16 % to ₹84.25 billion. Asset quality improved as the gross non‑performing asset ratio fell to 1.38 % at the end of June, compared with 1.40 % three months prior.