ICICI Bank did exceptionally well, making a 36% higher profit in the quarter ending September, reaching a whopping Rs 10,261 crore.
Strong Earnings from Interests:
The bank’s earnings from interests also grew by 24% compared to last year, reaching Rs 18,308 crore.
Significant Total Income: ICICI Bank’s overall income for the quarter showed significant growth, up by 31% from last year, making it Rs 40,697 crore.
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Provisions Reduced Significantly
Provision Costs Dropped: During this quarter, the bank spent much less on provisions compared to last year, with expenses dropping to Rs 583 crore. This is a notable decrease from Rs 1,645 crore last year and Rs 1,292.4 crore in the previous quarter.
Good News About Loans and Capital
Better Asset Quality: ICICI Bank’s bad loans, called non-performing assets (NPA), improved a lot. This quarter, the gross NPA ratio was 2.48%, which is much better than last year’s 3.19% and last quarter’s 2.76%. The net NPA ratio also improved, reaching 0.43% from 0.61% last year and 0.48% in the previous quarter.
Strong Capital Position: The bank is doing well when it comes to capital, with a capital adequacy ratio of 16.07% as of September. Even though it’s slightly lower than last year’s 16.93% and last quarter’s 16.71%, it’s still strong.
ICICI BANK COSTS AND PROFIT MARGINS
 Higher Operating Costs: The bank had to spend more to run its operations, with expenses reaching Rs 9,855.3 crore this quarter. This is higher than the Rs 8,161.36 crore spent last year.
 Profit Margin Steady: ICICI Bank’s profit margin, which is how much they make from interest, stayed pretty consistent. It was 4.53% this quarter, which is better than last year (4.31%), but not as high as last quarter (4.78%). Over the April-September period, it was 4.65%.
ICICI BANK INCOME AND FEES
Income Beyond Interests Went Up: The bank made 14% more money from things other than interests, excluding treasury income. This amounted to Rs 5,861 crore.
More Earnings from Fees: Earnings from fees grew by 16.2% compared to last year, reaching Rs 5,204 crore. A big chunk of this money came from retail, rural, business banking, and SME customers.
BIGGER LOAN PORTFOLIO
 More Loans: ICICI Bank gave out more loans this quarter, especially in India. Their loan portfolio in the country went up by 19.3% from last year, reaching Rs 10.74 lakh crore by September 30. This means they lent out 19.3% more money compared to last year and 4.8% more compared to the previous quarter. A large part of these loans, 54.3%, was for retail purposes.
HEALTHY ASSET QUALITY AND RECOVERIES
Improving Asset Quality: ICICI Bank did a good job at making the bad loans, known as non-performing assets (NPAs), better. They managed to recover and upgrade NPAs worth Rs 4,571 crore during the quarter. This is quite an improvement from the Rs 3,511 crore they handled in the previous quarter. The bank also wrote off NPAs amounting to Rs 1,922 crore this quarter.
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Market Performance
Stock Market Performance: ICICI Bank’s shares didn’t do as well on the stock market. They were down by 0.3% on the National Stock Exchange, closing at Rs 932.75.