ICICI Bank Q3 Results: Net profit rises 15% to ₹11,792 cr, shares responds positively
ICICI Bank reported a 15 per cent rise in standalone net profit to ₹11,792 crore for the third quarter ended December 2024, compared to ₹10,272 crore in the same period last year. The bank’s shares responded positively, trading up 1.80 per cent at ₹1,231 on NSE as of Monday morning.
The private sector lender’s performance was driven by a 9 per cent increase in net interest income, which reached ₹20,371 crore, and a 16 per cent growth in other income to ₹7,068 crore. The results were also supported by a write-back in deferred tax.
The bank maintained strong asset quality, with gross non-performing assets (NPAs) improving to 1.96 per cent of gross advances as of December-end 2024, down from 2.30 per cent a year ago. Net NPAs also showed improvement, declining to 0.42 per cent from 0.44 per cent in the same period.
Both deposits and advances demonstrated robust growth of approximately 14 per cent year-on-year. The bank’s total deposits stood at ₹15,20,309 crore, while advances reached ₹13,14,366 crore at the end of December 2024.
