ICICI Bank jumps beyond 8 per cent on strong financial results for Q2FY22

The Board of Directors of ICICI Bank Limited approved the standalone and consolidated accounts of the Bank for the quarter ended September 30, 2021 (Q2-2022).

Performance Review: Quarter ended September 30, 2021

• Core operating profit (profit before provisions and tax, excluding treasury income) grew by 23 per cent year-on-year to Rs 9,518 crore (US$ 1.3 billion) in the quarter ended September 30, 2021 (Q2-2022)

• Net interest income grew by 25 per cent year-on-year

• Net interest margin of 4 per cent

• Profit after tax grew by 30 per cent year-on-year to Rs 5,511 crore (US$ 742 million) in Q2-2022

• Total deposits grew by 17 per cent year-on-year to Rs 977,449 crore (US$ 131.7 billion) at September 30, 2021

• 28 per cent year-on-year growth in average current and savings account (CASA) deposits in Q2-2022; average CASA ratio was 44 per cent in Q2-2022

• Domestic loan portfolio grew by 19 per cent year-on-year

• Net NPA ratio declined from 1.16 per cent at June 30, 2021 to 0.99% at September 30, 2021, the lowest since December 31, 2014

• Provision coverage ratio was 80.1 per cent at September 30, 2021

• Total capital adequacy ratio was 19.52 per cent and Tier-1 capital adequacy ratio was 18.53 per cent on a standalone basis at September 30, 2021 (including profits for the six months ended September 30, 2021 (H1-2022))

ICICI Bank Limited is an Indian financial services company with its registered office in Vadodara, Gujarat, and corporate office in Mumbai, Maharashtra.

On Monday, the share of ICICI Bank has caught investors attention and is trading at Rs 823.15, which is 8.44 per cent up on BSE.