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EQUITY - MARKET SCREENER

ICICI Bank
20-Apr-25   00:27 Hrs IST
ICICI Bank has reported strong 18% growth in net profit at Rs 12629.58 crore for the quarter ended March 2025 (Q4FY2025). The bank has posted improved 11% growth in net interest income (NII), while the core fee income of the bank also jumped 16% in Q4FY2025. The Net Interest Margin (NIM) of the bank jumped on sequential basis to 4.41% in Q4FY2025 from 4.25% in Q3FY2025 and also rose from 4.40% in the corresponding quarter of previous year.
On business front, the bank as has posted 14% growth in business with healthy 13% increase in loan book. The asset quality of the bank has continued to strengthen in Q4FY2025. Bank has reduced the credit to deposit ratio to 83.3% at end March 2025 from 83.8% at end March 2024. However, the CASA ratio of the bank has improved on sequential basis to 41.8% at end March 2025 from 40.5% end December 2024, while eased from 42.2% at end March 2024.

Asset quality improves: The bank has further improved asset quality in Q4FY2025.

The fresh slippages of loans stood at Rs 5142 crore in Q4FY2025 compared with 6085 crore in previous quarter and Rs 5139 crore in the corresponding quarter last year.

The recoveries and upgradations of NPAs was at Rs 3817 crore and the write-off of loans was at Rs 2118 crore in Q4FY2025.

The standard restructured loan book of the bank declined to Rs 1313 crore end March 2025 compared to Rs 1416 crore a quarter ago.

Provision coverage ratio eased to 76.20% at end March 2025 compared to 78.20% a quarter ago and 80.30% a year ago.

The capital adequacy ratio of the bank stood at 16.6% with Tier I ratio at 15.9% at end March 2025.

The risk weighted assets of the bank has increased 17% YoY to Rs 1611104 crore end March 2025,

Asset Quality Indicators: ICICI Bank

 

Mar-25

Dec-24

Sep-24

Jun-24

Mar-24

Variation

 

QoQ

YoY

 
Gross NPA (Rs Crore)

 24166.18

 27745.33

 27121.15

 28718.63

 27961.68

 -13

 -14

 
Net NPA (Rs Crore)

 5589.41

 5897.76

 5685.14

 5684.79

 5377.79

 -5

 4

 
% Gross NPA

 1.67

 1.96

 1.97

 2.15

 2.16

 -29

 -49

 
% Net NPA

 0.39

 0.42

 0.42

 0.43

 0.42

 -3

 -3

 
% PCR

 76.20

 78.20

 78.50

 79.70

 80.30

 -200

 -410

 
% CRAR - Basel III

 16.55

 14.71

 15.35

 15.96

 16.33

 184

 22

 
% CRAR - Tier I - Basel III

 15.94

 14.04

 14.65

 15.24

 15.60

 190

 34

 

Variation in basis points for figures given in percentages and in % for figures in Rs crore

 

Business Highlights:

Healthy business growth: The business of the bank has increased 14% YoY to Rs 2952114 crore end March 2025, driven by 13% rise in advances to Rs 1341766 crore. Deposits increased 14% to Rs 1610348 crore at end March 2025.

CASA deposits ratio improves: The CASA deposits of the bank increased 13% YoY to Rs 673729 crore at end March 2025. The current account deposits increased 20% to Rs 232957 crore, while saving account deposits moved up 10% to Rs 440772 crore end March 2025. The CASA ratio declined to 41.8% at end March 2025 compared to 42.2% at end March 2024, while improved from 40.5% a quarter ago. The term deposits have increased 15% to Rs 936619 crore end March 2025.

Strong loan growth: Advances growth was driven by retail loans rising 9% YoY to Rs 717223 crore at end March 2025, while credit to agriculture increased 5% to Rs 78340 crore and MSME jumped 34% to Rs 263367 crore at end March 2025. The corporate credit has moved up 12% to Rs 279651 crore end March 2025. The overseas credit has declined 8% to Rs 30785 crore end March 2025.

Investment book of the bank increased 9% YoY to Rs 504757 crore at end March 2025. The SLR book moved up 6% to Rs 399687 crore, while non SLR book jumped 22% to Rs 105070 crore at end March 2025.

Margins improve: The bank has showed 18 bps YoY rise in cost of deposits to 5.00%, while yield on advances eased 2 bps YoY to 9.86% in Q4FY2025. NIM has improved 1 bps YoY, while rose 16 bps qoq to 4.41% in Q4FY2025.

Branch expansion: The bank has added 241 branches and 8 ATMs in Q4FY2025, taking overall tally to 6983 branches and 16285 ATM`s end March 2025.

Book value of the bank stood at Rs 402.8 per share at end March 2025, while the adjusted book value (net of NNPA and 10% of restructured advances) was Rs 394.8 per share at end March 2025.

Quarterly Performance

NII rises as NIM improves: Bank has recorded 12% increase in the interest earned at Rs 42430.80 crore, while interest expenses increased 13% to Rs 21237.86 crore in Q4FY2025. NII improved 11% to Rs 21192.94 crore in the quarter ended March 2025.

Healthy growth in the core fee income: Bank has posted strong 16% growth in core fee income to Rs 6306 crore, while the treasury income rebounded to Rs 239 crore and other income zoomed 300% to Rs 40 crore, leading to 29% jump in the overall non-interest income to Rs 7260.07 crore in the quarter ended March 2025.

Expenses ratio improves: The operating expenses of the bank increased 11% to Rs 10788.76 crore, as other expenses moved up 12% to Rs 6683.58 crore, while employee expenses increased 10% to Rs 4105.18 crore in Q4FY2025. Cost to income ratio improved to 37.9% in Q4FY2025 compared with 39.2% in Q4FY2024, helping the Operating Profit to increase 17% to Rs 17664.25 crore.

Provisions and contingencies rise: The bank has showed 24% increase in provisions to Rs 890.70 crore.

Effective tax rate declined to 24.7% in Q4FY2025 from 25.2% in Q4FY2024. Net Profit rose by 18% YoY to Rs 12629.58 crore during quarter ended March 2025.

Consolidated results

The consolidated profit after tax increased by 15.7% yoy to Rs 13502 crore in Q4FY2025 from Rs 11672 crore in Q4FY2024. Consolidated assets grew by 11.8% yoy to Rs 2642241 crore at end March 2025 from Rs 2364063 crore at end March 2024.

Key subsidiaries

The annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was Rs 10407 crore in FY2025 compared to Rs 9046 crore in FY2024. Value of New Business (VNB) of ICICI Life was Rs 2370 crore in FY2025 compared to Rs 2227 crore in FY2024. The VNB margin was 22.8% in FY2025 compared to 24.6% in FY2024. The profit after tax was Rs 1189 crore in FY2025 compared to Rs 852 crore in FY2024 and was Rs 386 crore in Q4FY2025 compared to Rs 174 crore in Q4FY2024.

The Gross Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) was Rs 24776 crore in FY2024 compared to Rs 26833 crore.

in FY2025. The combined ratio stood at 102.8% in FY2025 compared to 103.3% in FY2024. Excluding the impact of CAT losses of Rs 94 crore in FY2025 and Rs 137 crore in FY2024, the combined ratio was 102.4% and 102.5% respectively. The profit after tax of ICICI General grew by 30.7% to Rs 2508 crore in FY2025 compared to Rs 1919 crore in FY2024. The profit after tax of ICICI General was Rs 510 crore in Q4FY2025 compared to Rs 519 crore in Q4FY2024.

The profit after tax of ICICI Prudential Asset Management Company, as per Ind AS, increased to Rs 692 crore in Q4FY2025 from Rs 529 crore in Q4FY2024. The profit after tax grew by 29.3% yoy to Rs 2651 crore in FY2025 from Rs 2050 crore in FY2024.

The profit after tax of ICICI Securities, on a consolidated basis, as per Ind AS, was Rs 381 crore in Q4FY2025 compared to Rs 537 crore in Q4FY2024. The profit after tax grew by 14.4% yoy to Rs 1942 crore in FY2025 from Rs 1697 crore in FY2024. Pursuant to the Scheme of Arrangement amongst ICICI Bank Limited and ICICI Securities Limited and their respective shareholders, ICICI Securities Limited has been delisted from stock exchanges on 24 March 2025 and became a wholly-owned subsidiary of the Bank.

Financial Performance FY2025:

Bank has posted 16% increase in net profit to Rs 47226.99 crore in the year ended March 2025 (FY2025). The net interest income increased 9% to Rs 81164.44 crore, while non-interest income moved up 24% to Rs 28506.70 crore, pushing up net total income by 13% to Rs 109671.14 crore in FY2025. The operating expenses increased 8% to Rs 42372.32 crore, while provision and contingencies galloped 29% to Rs 4682.62 crore, allowing profit before tax to increase 15% to Rs 62616.20 crore in FY2025. The cost-to-income ratio improved to 38.6% in FY2025 compared to 40.2% in FY2024. An effective tax rate declined to 24.6% in FY2025 compared to 25.0% in FY2024. The net profit has increased 16% to Rs 47226.99 crore in FY2025.

 

ICICI Bank: Results

Particulars

2503 (3)

2403 (3)

Var %

2503 (12)

2403 (12)

Var %
Interest Earned

 42430.80

 37948.36

 12

 163263.78

 142890.94

 14
Interest Expended

 21237.86

 18855.56

 13

 82099.34

 68585.22

 20
Net Interest Income

 21192.94

 19092.80

 11

 81164.44

 74305.72

 9
Other Income

 7260.07

 5648.78

 29

 28506.70

 22957.77

 24
Net Total Income

 28453.01

 24741.58

 15

 109671.14

 97263.49

 13
Operating Expenses

 10788.76

 9702.83

 11

 42372.32

 39132.73

 8
Operating Profits

 17664.25

 15038.75

 17

 67298.82

 58130.76

 16
Provisions & Contingencies

 890.70

 718.49

 24

 4682.62

 3642.93

 29
Profit Before Tax

 16773.55

 14320.26

 17

 62616.20

 54487.83

 15
EO

 0.00

 0.00

 -

 0.00

 0.00

 -
PBT after EO

 16773.55

 14320.26

 17

 62616.20

 54487.83

 15
Provision for tax

 4143.97

 3612.73

 15

 15389.21

 13599.56

 13
PAT

 12629.58

 10707.53

 18

 47226.99

 40888.27

 16
EPS*(Rs)

 70.9

 60.1

  

 66.3

 57.4

  
Adj BV (Rs)

 394.8

 325.0

  

 394.8

 325.0

  

* Annualized on current equity of Rs 1424.59 crore. Face Value: Rs 2, Figures in Rs crore

Source: Capitaline Corporate Database

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