ICICI Bank first quarter results

Business Business:India’s second-largest private sector lender ICICI Bank on Saturday reported that its net profit in the first quarter of FY 2019-20 rose 15 per cent year-on-year to Rs 12,768.21 crore, much better than analysts’ expectations. NII (difference between interest earned and interest spent) stood at Rs 21,634.46 crore in the June quarter, showing a growth of 8.4 per cent year-on-year.

According to a Moneycontrol poll, the market had forecast an 8 per cent year-on-year rise in NII for ICICI Bank to Rs 21,091 crore and a 9.5 per cent rise in net profit to Rs 12,112 crore in the April-June quarter.

Ahead of the results, on Friday, ICICI Bank results closed 0.56 per cent higher at Rs 1,426.7 on NSE.

The bank’s core operating profit grew 13.6 per cent year-on-year to Rs 17,505 crore, while profit before tax (excluding fiscal profit) grew 11.4 per cent year-on-year to Rs 15,690 crore in the first quarter. Total income (standalone) rose to Rs 51,451.81 crore as against Rs 45,997.70 crore in the same period a year ago. Other income rose to Rs 8,504.90 crore from Rs 7,001.92 crore a year ago.

Asset quality
Asset quality improved year-on-year. Gross NPA ratio declined to 1.67 per cent from 2.15 per cent in the year-ago quarter. Net NPA ratio also declined to 0.41 per cent from 0.43 per cent year-on-year. However, sequentially, both gross and net NPA ratios remained stable.
According to the press release, gross NPAs increased by Rs 6,245 crore (US$ 728 million) in the April-June quarter as against Rs 5,916 crore (US$ 690 million) in the same quarter a year ago.

Recoveries and upgradations of NPAs, excluding write-offs and sales, stood at Rs 3,211 crore (US$ 374 million) in Q1 FY26 as against Rs 3,292 crore (US$ 384 million) in Q1 FY25.

Net increase in gross NPAs, excluding write-offs and sales, stood at Rs 3,034 crore (US$ 354 million) in Q1 FY26 as against Rs 2,624 crore (US$ 306 million) in Q1 FY25. The bank has written off gross NPAs of Rs 2,359 crore (US$ 275 million) in Q1 FY26. The provision coverage ratio on non-performing loans stood at 75.3 per cent as on June 30, 2025.

As on June 30, 2025, the bank has total provisions of Rs 22,664 crore (US$ 2.6 billion) or 1.7 per cent of loans, excluding specific provisions based on amounts outstanding to borrowers classified as non-performing, the release said.