Private sector lender ICICI Bank on Saturday reported a 34.2 percent rise in its independent profit after tax (PAT) to Rs.8,312 crore in the quarter ended December 2022 compared to Rs.6,194 crore in the same quarter last year.
Net Interest Income (NII) increased by 34.6 per cent to Rs.16,465 crore from Rs.12,236 crore in the third quarter of FY2022.
The net interest margin (NIM) improved to 4.65 percent in the quarter under review from 3.96 percent in the same period last year.
The gross non-performing assets (NPA) ratio decreased to 3.07 percent from 4.13 percent in the same period last fiscal year. Net NPAs were 0.55 percent compared to 0.85 percent as of December 31, 2021.
There were net additions of Rs 1,119 crore to gross NPAs in Q3FY23. NPA recoveries and upgrades, excluding write-offs and sales, totaled Rs. 4,604 crore in the third quarter of FY2023. Gross NPAs written off were Rs 1,162 crore.
The reserve coverage ratio of the NPAs was 82 percent as of December 31, 2022. The overall capital adequacy ratio was 18.33 percent and the Tier 1 capital adequacy was 17.58 percent.
Total advances increased by 19.7 per cent to Rs 9,74,047 crore and deposits increased by 10.3 per cent year-on-year to Rs 11,22,049 crore as of 31 December 2022.
In the fiscal third quarter, advances in retail increased 23.4 percent, business increased 37.9 percent and wholesale increased 18.2 percent.
