ICICI Bank Q2 results: Net profit rises to ₹11,745.88 crore

Business Business: ICICI Bank Ltd on Saturday, 26 October announced its results for the July to September quarter. According to the company’s BSE filing, the company in its standalone statement announced a 14.47 per cent rise in net profit to ₹11,745.88 crore in the second quarter of the financial year 2024-25 as against ₹10,261 crore in the same period last year. ICICI Bank shares closed 0.23 per cent higher at ₹1,255.50 after Friday’s trading session, while it closed at ₹1,252.60 at the previous market close.

According to statements, the Mumbai-based lending giant reported a 16.08 per cent rise in the income earned from interest in the second quarter of FY 2024-25 to Rs 40,537.38 crore as compared to Rs 34,920.39 crore in the same quarter last year. The bank’s income from investment activities also grew 18.38 per cent to Rs 8,311.33 crore in the July-September quarter of the current fiscal year as compared to Rs 7,020.31 crore in the same period last year. The bank’s gross non-performing assets (NPAs) fell 51 basis points (bps) to 1.97 per cent in the second quarter as compared to 2.48 per cent in the same quarter last year. Net non-performing assets (NPAs) declined 1 bps to 0.42 per cent as compared to 0.43 per cent year-on-year, according to a BSE filing.