Winning Bizness Desk

Growth in Net Profit and Income Highlights ICICI Bank’s Strong Quarter

Mumbai. India’s second-largest private lender, ICICI Bank, reported a 14% year-on-year (YoY) increase in standalone net profit for the July-September quarter, reaching ₹11,746 crore. This is a notable rise from the ₹10,261 crore recorded in the same quarter last year. Compared to the previous quarter (Q1FY25), the profit grew by 6.21%, where the bank earned ₹11,059 crore. ICICI Bank announced its second-quarter financial results for FY 2024-25 on October 26.

Strong Revenue Growth with a 17.24% Jump in Total Income

The bank's total income for the September quarter rose 17.24% YoY to ₹47,714 crore, up from ₹40,697 crore in the corresponding quarter of the previous year. On a quarterly basis, ICICI Bank’s total income rose by 3.73%, compared to ₹45,997 crore in the preceding quarter. This growth reflects robust performance across the bank’s core operations.

Net Interest Income Sees a 9.5% Increase

In the latest quarter, ICICI Bank’s net interest income (NII) grew by 9.5% YoY, reaching ₹20,048 crore, up from ₹18,308 crore in the same period last year. On a quarterly basis, NII rose by 2.53% from ₹19,553 crore in Q1FY25, signaling strong growth in the bank’s lending business.

Impressive Stock Performance with 38% Annual Return

ICICI Bank’s stock has been a solid performer for investors, delivering a 38.62% return over the past year. On October 25, the stock closed at ₹1,259, reflecting a 0.55% increase from the previous day. The bank’s market capitalization has reached ₹8.85 lakh crore. Over the last six months, the stock has provided a 13.69% return, showing sustained investor confidence in the bank’s performance and growth prospects.

A Look Back: ICICI Bank’s Legacy and Milestones

Founded in 1955 through an initiative by the World Bank, the Government of India, and prominent Indian industry representatives, ICICI Bank has grown into a major player in the financial services sector. The bank’s headquarters are located in Mumbai, and it operates internationally. In 1999, ICICI made history as the first Indian company and the first non-Japanese Asian bank to be listed on the New York Stock Exchange (NYSE). Sandeep Bakshi currently serves as ICICI Bank’s CEO, overseeing its continued expansion and market achievements. ICICI Bank’s robust Q2 performance underscores its role as a key contributor to India’s banking sector, with strong growth indicators across profit, revenue, and stock performance. This growth trajectory highlights ICICI’s resilient position amidst evolving financial markets.