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Business News/ Companies / Company Results/  ICICI Bank Q3 Results Highlights: Net profit rises 23.5% to 10,272 crore, NII up 13% YoY
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ICICI Bank Q3 Results Highlights: Net profit rises 23.5% to ₹10,272 crore, NII up 13% YoY

ICICI Bank Q3 Results Highlights: ICICI Bank's net interest income (NII) increased by 13.4 per cent to 18,678 crore in the December quarter from 16,465 crore in the year-ago period.

ICICI Bank Q3 Results Live Updates: ICICI Bank, the second largest private sector lender in India, is expected to report decent earnings for the third quarter of FY24 with strong net profit and net interest income (NII) growth. (Photo: Bloomberg News)Premium
ICICI Bank Q3 Results Live Updates: ICICI Bank, the second largest private sector lender in India, is expected to report decent earnings for the third quarter of FY24 with strong net profit and net interest income (NII) growth. (Photo: Bloomberg News)

ICICI Bank Q3 Results Highlights: ICICI Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24) results, reporting a rise of 23.5 per cent in standalone net profit at 10, 272 crore, compared to 8,312 crore in the year-ago period.

India's second largest private sector lender's net interest income (NII) increased by 13.4 per cent to 18,678 crore in the December quarter from 16,465 crore in the corresponding period last year. 

The gross non-performing assets (NPA) ratio declined to 2.30 per cent at December 31, 2023 from 2.48 per cent at September 30, 2023. The net NPA ratio was 0.44 per cent at December 31, 2023 compared to 0.43 per cent at September 30, 2023 and 0.55 per cent at December 31, 2022.

 

Stay tuned to our ICICI Bank Q3 Results Live blog for the latest updates:

20 Jan 2024, 05:25:34 PM IST

ICICI Bank Q3 Results Live: This live blog session has ended

Stay tuned to LiveMint for all business and market updates.

20 Jan 2024, 05:24:16 PM IST

ICICI Bank Q3 Results Live: ICICI Bank shares in focus on Tuesday after December quarter performance

Shares of ICICI Bank will be in focus on Tuesday, January 23, after reporting the December quarter earnings. The stock settled flat-to-positive in today's trading session ahead of results as D-Street.

20 Jan 2024, 05:16:39 PM IST

ICICI Bank Q3 Results Live: Shares settle higher on Saturday

On January 20, shares of ICICI Bank settled 0.92 per cent higher at 1,008.30 apiece on the BSE. Domestic market benchmarks Nifty 50 and Sensex ended in the negative on Saturday with Nifty 50 ending at 21,571.80, down 51 points, or 0.23 per cent. The 30-share pack closed 260 points, or 0.36 per cent, lower at 71,423.65, with 23 stocks in the red.

20 Jan 2024, 05:15:38 PM IST

ICICI Bank Q3 Results Live: Total network

With the addition of 471 branches in nine months ended December 31, the bank had a network of 6,371 branches and 17,037 ATMs and cash recycling machines at December 31, 2023.

20 Jan 2024, 04:15:31 PM IST

ICICI Bank Q3 Results Live: Growth in digital and payments platforms

The value of the bank’s merchant acquiring transactions through UPI grew by 85 per cent year-on-year and 20.7 per cent sequentially in Q3-2024. The ICICI Bank had a market share of about 28.8 per cent by value in electronic toll collections through FASTag in Q3-2024, with a 11.9 per cent year-on-year growth in collections in Q3-2024.

20 Jan 2024, 04:13:44 PM IST

ICICI Bank Q3 Results Live: Asset quality analysis

The net additions to gross NPAs, excluding write-offs and sale, were 363 crore in Q3-2024 compared to 116 crore in Q2-2024. The gross NPA additions were 5,714 crore in Q3-2024 compared to 4,687 crore in Q2-2024. 

Recoveries and upgrades of NPAs, excluding write-offs and sale, were 5,351 crore in Q3-2024 compared to 4,571 crore in Q2-2024. The bank has written off gross NPAs amounting to 1,389 crore in Q3-2024. The provisioning coverage ratio on NPAs was 80.7 per cent at December 31, 2023.

20 Jan 2024, 04:10:56 PM IST

ICICI Bank Q3 Results Live: Deposit growth

The total period-end deposits increased by 18.7 per cent year-on-year and 2.9 per cent sequentially to 13,32,315 crore at December 31, 2023. Period-end term deposits increased by 31.2 per cent year-on-year and 4.9 per cent sequentially to 8,04,320 crore at December 31, 2023. Average current account deposits increased by 11.6 per cent year-on-year in Q3-2024. Average savings account deposits increased by 2.8 per cent year-on-year in Q3-2024.

20 Jan 2024, 04:09:26 PM IST

ICICI Bank Q3 Results Live: Biz updates, Total Advances up 18% YoY

The SME business, comprising borrowers with a turnover of less than 250 crore, grew by 27.5 per cent year-on-year and 6.7 per cent sequentially at December 31, 2023. The rural portfolio grew by 18.2 per cent year-on-year and 4.6 per cent sequentially at December 31, 2023. 

The domestic corporate portfolio grew by 13.3 per cent year-on-year and 2.9 per cent sequentially at December 31, 2023. Total advances increased by 18.5 per cent year-on-year and 3.9 per cent sequentially to 11,53,771 crore at December 31, 2023.

20 Jan 2024, 04:07:37 PM IST

ICICI Bank Q3 Results Live: Credit Growth

The net domestic advances grew by 18.8 per cent year-on-year and 3.8 per cent sequentially at December 31, 2023. The retail loan portfolio grew by 21.4 per cent year-on-year and 4.5 per cent sequentially, and comprised 54.3 per cent of the total loan portfolio at December 31, 2023.

Including non-fund outstanding, the retail portfolio was 46.4 per cent of the total portfolio at December 31, 2023. The business banking portfolio grew by 31.9 per cent year-on-year and 6.5 per cent sequentially at December 31, 2023

20 Jan 2024, 04:06:07 PM IST

ICICI Bank Q3 Results Live: Capital adequacy

Including profits for the nine months ended December 31, 2023, ICICI Bank’s total capital adequacy ratio at December 31, 2023 was 16.70 per cent and CET-1 ratio was 16.03 per cent compared to the minimum regulatory requirements of 11.70 per cent and 8.20 per cent respectively

20 Jan 2024, 04:04:46 PM IST

ICICI Bank Q3 Results Live: Provisions, AIF

-- Provisions (excluding provision for tax) were 1,050 crore in Q3-2024 compared to 2,257 crore in the year-ago period.

--In Q3-2024, provisions included 627 crore on investments in Alternate Investment Funds as per RBI circular dated December 19, 2023

20 Jan 2024, 04:03:37 PM IST

ICICI Bank Q3 Results Live: Income numbers

--The non-interest income, excluding treasury, increased by 19.8 per cent year-on-year to 5,975 crore in Q3-2024 from 4,987 crore in Q3-2023

--Fee income grew by 19.4 per cent year-on-year to 5,313 crore in Q3-2024 from 4,448 crore in Q3-2023. Fees from retail, rural, business banking and SME customers constituted about 79 per cent of total fees in Q3-2024

--There was a treasury gain of 123 crore in Q3-2024 compared to 36 crore (US$ 4 million) in Q3-2023

20 Jan 2024, 04:01:00 PM IST

ICICI Bank Q3 Results Live: P&L numbers

The core operating profit grew by 10.3 per cent year-on-year to 14,601 crore in Q3-2024 from 13,235 crore in Q3-2023; excluding dividend income from subsidiaries/associates, core operating profit grew by 9.7 per cent year-on-year in Q3-2024. The net interest margin was 4.43 per cent in Q3-2024 compared to 4.53 per cent in Q2-2024 and 4.65 per cent in Q3-2023. 

20 Jan 2024, 03:59:24 PM IST

ICICI Bank Q3 Results Live: Q3 scorecard

--Profit before tax excluding treasury grew by 23.4 per cent year-on-year to 13,551 crore in the quarter ended December 31, 2023 (Q3-2024)

--Core operating profit grew by 10.3 per cent year-on-year to 14,601 crore in Q3-2024.

--Provisioning coverage ratio on non-performing assets was 80.7 per cent at December 31, 2023

20 Jan 2024, 03:57:10 PM IST

ICICI Bank Q3 Results Live: Asset quality

The gross non-performing assets (NPA) ratio declined to 2.30 per cent at December 31, 2023 from 2.48 per cent at September 30, 2023. The net NPA ratio was 0.44 per cent at December 31, 2023 compared to 0.43 per cent at September 30, 2023 and 0.55 per cent at December 31, 2022.

20 Jan 2024, 03:44:18 PM IST

ICICI Bank Q3 Results Live: Net profit rises 23.5% to ₹10,272 crore

ICICI Q3 scorecard: Net profit rises 23.5% to 10,272 crore in December quarter. India's second largest private sector lender's net interest income (NII) increased by 13.4 per cent to 18,678 crore in the December quarter from 16,465 crore in the corresponding period last year.

20 Jan 2024, 03:18:58 PM IST

ICICI Bank Q3 Results Live: Advances likely to rise 18% YoY

Domestic brokerage Axis Securities said ICICI Bank's advances growth expected to be healthy at around 18 percent YoY led by retail and SME segment, comments on slowdown in unsecured portfolio remain key monitorable. Brokerages believe that lower provisions should support profitability. Slippages could be up slightly due to agri NPAs.

20 Jan 2024, 02:41:50 PM IST

ICICI Bank Q3 Results Live: Bank stocks’ valuations offer comfort, says JM Financial

ICICI Bank Q3 Results Live: Retail banks are trading at ~17% discount to long-term averages and we believe this offers an attractive entry point for long-term investors. Private banks are trading at ~6% discount to long-term averages while PSU banks have seen meaningful improvement in valuations (30%/22% premium to 5/10 yr average) given that RoAs have normalized. While incremental valuation upsides are contingent to RoA upticks for PSU banks, a benign macro should aid stock performance. In our view, sector also remains a beneficiary (or bears the brunt of) the volatility in foreign flows and thus we believe any pullbacks due to the same could be opportunities to add exposure to select names. Our preferred plays are ICICI Bank, Axis Bank and IndusInd Bank, said JM Financial.

20 Jan 2024, 02:28:48 PM IST

ICICI Bank Q3 Results Live: Emkay Global estimates net profit growth at 27.4% YoY

ICICI Bank Q3 Results Live: ICICI Bank’s net profit is estimated to grow by 27.4% year-on-year (YoY) to 10,587 crore in Q3FY24, while Net interest income (NII) may rise 13.2% YoY to 18,643 crore. Net interest margin (NIM) is likely to contract to 4.4% from 4.5% QoQ and from 4.7% YoY, according to Emkay Global estimates.

20 Jan 2024, 02:15:00 PM IST

ICICI Bank Q3 Results Live: Lower provisions should support profitability

ICICI Bank Q3 Results Live: We expect ICICI Bank’s Q3 margins to slip QoQ due to rising cost of funds, but lower provisions should support profitability. Slippages could be up slightly due to agri NPAs, said Emkay Global.

20 Jan 2024, 01:57:33 PM IST

ICICI Bank Q3 Results Live: ICICI Bank shares rally over 1% ahead of Q3 results

ICICI Bank share price rallied over 1% ahead of the announcement of Q3 results today. ICICI Bank shares gained as much as 1.58% to a high of 1,014.95 apiece on the BSE. The stock reclaimed 1,000 level today. ICICI Bank market capitalization soared above 7 lakh crore.

20 Jan 2024, 01:42:08 PM IST

ICICI Bank Q3 Results Live: Traction in opex and deposit growth to be key monitorable

ICICI Bank Q3 Results Live: ICICI Bank’s loan growth is expected to remain healthy, led by Retail and SME segments. Expect credit costs to inch up slightly; adequate contingency buffers to add comfort. Margin trajectory is likely to compress. Traction in opex and deposit growth to be the key monitorable, said Motilal Oswal.

20 Jan 2024, 01:26:27 PM IST

ICICI Bank Q3 Results Live: Asset quality to improve sequentially

ICICI Bank Q3 Results Live: ICICI Bank asset quality is expected to improve sequentially. Gross non-performing assets (GNPA) during the December quarter are expected to fall 5% to 28,337 crore from 29,837 crore in the September quarter. Net non-performing assets (NNPA) are likely to rise 1.3% to 5,109 crore from 5,046 crore in Q2FY24, according to Phillip Capital estimates.

Gross NPA as a percentage of gross advances in Q3FY24 is likely to drop by 30 basis points (bps) to 2.3% from 2.5% in the September quarter. Net NPA ratio is expected to be stable at 0.4% QoQ. 

20 Jan 2024, 01:05:07 PM IST

ICICI Bank Q3 Results Live: ICICI Bank share price gains ahead of Q3 results

20 Jan 2024, 12:50:03 PM IST

ICICI Bank Q3 Results Live: Loan growth could come in at 4.4%: Prabhudas Lilladher

ICICI Bank Q3 Results Live: ICICI Bank Q3 net profit is expected to rise 17.3% year-on-year (YoY) to 9,754 crore, while its net interest income (NII) may grow 11.5% YoY to 18,352 crore, as per estimates by brokerage firm Prabhudas Lilladher. It expects Pre-Provisions Operating Profit (PPOP) in Q3FY24 to rise 4.8% YoY to 13,905 crore.

While loan growth could come in at 4.4%, we expect NII to remain stable QoQ due to NIM decline of 15 bps QoQ led by faster rise in cost of funds GNPAs set to improve by 14 bps QoQ whereas credit costs to remain benign, said the brokerage.

20 Jan 2024, 12:36:12 PM IST

ICICI Bank Q3 Results Live: ICICI Bank share performance

ICICI Bank Q3 Results Live: ICICI Bank shares have gained over 7% in the past one month, while the stock is up more than 15% in one year. In the past three years, ICICI Bank share price has surged over 81%.

20 Jan 2024, 12:16:25 PM IST

ICICI Bank Q3 Results Live: Net profit may rise 18.9% to ₹9,885 crore; NII growth seen at 12.2% YoY

ICICI Bank Q3 Results Live: ICICI Bank’s net profit during the third quarter of FY24 is expected to rise 18.9% to 9,885 crore from 8,312 crore in the corresponding quarter of last fiscal. Net interest income (NII) is expected to rise 12.2% to 18,468 crore in the quarter ended December 2023 from 16,465 in the year-ago quarter. Non-interest income is likely to grow 18.0% YoY to 5,927 crore. Pre-Provisions Operating Profit (PPOP) in Q3FY24 may rise 6.6% to 14,152 crore. The bank’s provisions are likely to rise 72.5% QoQ to 1,005 but drop 55.5% YoY, as per Axis Securities estimates.

20 Jan 2024, 12:00:36 PM IST

ICICI Bank Q3 Results Live: ICICI Bank’s slippages have been well under control 

ICICI Bank Q3 Results Live: ICICI Bank’s slippages have been well under control and have moderated over the past few quarters and are expected to remain under control. The lender is well-cushioned with higher provisions on its balance sheet. It is the best in the industry and the bank does not expect to utilize these provisions in the near term, said Motilal Oswal.

20 Jan 2024, 11:45:25 AM IST

ICICI Bank Q3 Results Live: Re-pricing of liabilities to drive up funding costs

ICICI Bank Q3 Results Live: ICICI Bank’s margins reached their peak in 4QFY23, and hence the re-pricing of liabilities and potential CASA cannibalization are likely to drive up funding costs, thereby exerting pressure on margins. ICICI Bank has 70% of its book in a floating rate nature, and with much of the repricing completed in the past, yields are expected to remain stagnant, said Motilal Oswal.

ICICI Bank Q3 Results Live: The bank is transforming into a growth leader in the SME and Retail segments, aided by continued investments in technology and partnerships with new ecosystem players. The brokerage expects a 18% loan CAGR over FY23-26 for the bank.

20 Jan 2024, 11:30:28 AM IST

ICICI Bank Q3 Results Live: ICICI Bank share price reclaims ₹1,000 level ahead of Q3 results today

After hitting below 1,000 apiece levels during the recent selloff in the Indian stock market, ICICI Bank share price regained the psychological 1,000 level during morning deals on Saturday. While regaining this, ICICI Bank's market cap also came above 7 lakh crore. ICICI Bank share price today opened upside at 1,005.95 per share level on the NSE and went on to touch an intraday high of 1,007.90 per share within a few minutes of the opening bell. Read here

20 Jan 2024, 11:15:37 AM IST

ICICI Bank Q3 Results Live:  ICICI Bank has room for re-rating: Analysts

ICICI Bank Q3 Results Live: ICICI Bank has room for re-rating as it continues to deliver robust return ratios and sustained growth, led by its focus on enhancing core operating performance, said Motilal Oswal. It estimates RoA and RoE of 2.3% and 18.2% in FY25. Adjusted for subsidiaries, the standalone bank trades at 2.2x FY25E ABV.

20 Jan 2024, 11:01:05 AM IST

ICICI Bank Q3 Results Live: ICICI Bank well-cushioned with higher provisions on its balance sheet

ICICI Bank Q3 Results Live: ICICI Bank has continued to report strong growth and profitability for the past few years, while also maintaining consistency. The bank increased its PCR to 83% as of 2QFY24. The bank carries Covid-related provisions of 13,100 crore (1.2% of loans).  Slippages have been well under control and have moderated over the past few quarters and are expected to remain under control. ICICI Bank is well-cushioned with higher provisions on its balance sheet. It is the best in the industry and the bank does not expect to utilize these provisions in the near term, said Motilal Oswal.

20 Jan 2024, 10:40:20 AM IST

ICICI Bank Q3 Results Live: Loan growth to be driven by the retail segment: Equirus Securities

ICICI Bank Q3 Results Live: Equirus Securities expects ICICI Bank to report robust advances and deposit growth at 19% YoY each. It expects loan growth to be driven by the retail segment. NIMs are expected to decline by ~20 bps QoQ. Contained credit cost trends to continue. According to the brokerage firm, comments on trends in the housing loan business as well as capex cycle and expected growth and guidance would be key things to watch out for in ICICI Bank Q3 results.

20 Jan 2024, 10:21:27 AM IST

ICICI Bank Q3 Results Live: NIM to decline 15 bps QoQ, GNPAs to improve: Prabhudas Lilladher

ICICI Bank Q3 Results Live: While loan growth could come in at 4.4%, we expect net interest income (NII) to remain stable QoQ due to net interest margin (NIM) decline of 15 bps QoQ led by faster rise in cost of funds, said brokerage house Prabhudas Lilladher. It expects gross non-performing assets (GNPAs) to improve by 14 bps QoQ whereas credit costs to remain benign.

20 Jan 2024, 10:06:36 AM IST

ICICI Bank Q3 Results Live: Expect loan growth of 20% YoY: Nuvama

ICICI Bank Q3 Results Live: Expect loan growth of 5% QoQ and 20% YoY, said Nuvama Institutional Equities. It expects interest income (NII) growth of 2% QoQ and 13% YoY and PPOP to grow 2% QoQ and 9% YoY. NIM is expected to decline 14 bps QoQ, the brokerage added.

20 Jan 2024, 09:50:13 AM IST

ICICI Bank Q3 Results Live: Advances growth expected to be healthy at 18% YoY 

ICICI Bank Q3 Results Live: Advances growth expected to be healthy at ~18% YoY led by Retail and SME segment, comments on slowdown in unsecured portfolio remain key monitorable, said Axis Securities. Margin compression to be visible, though slightly lower in quantum QoQ  Healthy fee income and stable cost ratios to support PPOP Growth. Benign credit costs to support earnings, no challenges on asset quality, as per the brokerage.

20 Jan 2024, 09:35:04 AM IST

ICICI Bank Q3 Results Live: Momentum in loan book to continue, says Phillip Capital

ICICI Bank Q3 Results Live: ICICI Bank’s momentum in loan book is expected to continue in Q3FY24. Net interest margin (NIM) to contract marginally due to rise in cost of deposit, while PPoP growth is likely to moderate. Total vulnerable loan (restructured + GNPA + Below investment grade) net of provision to decline QoQ, said Phillip Capital.

20 Jan 2024, 09:20:30 AM IST

ICICI Bank Q3 Results Live: ICICI Bank shares open higher ahead of Q3 results

ICICI Bank Q3 Results Live: ICICI Bank share price opened higher on Saturday ahead of the announcement of Q3 results today. ICICI Bank shares opened 0.79% higher at 1,007.00 apiece as against its previous close of 999.10 on the BSE.

20 Jan 2024, 09:11:49 AM IST

ICICI Bank Q3 Results Live: ICICI Bank, Kotak Mahindra Bank, others to announce Q3 earning

Today, a handful of major banks will be releasing their Q3 results, including ICICI Bank Ltd, IDBI Bank Ltd, IDFC First Bank Ltd, Kotak Mahindra Bank Ltd, and Union Bank Of India. Approximately 40 companies will release their December quarter results today. Read here

20 Jan 2024, 08:55:11 AM IST

ICICI Bank Q3 Results Live: NIM to drop on rise in cost of deposit

ICICI Bank Q3 Results Live: ICICI Bank’s net interest margin (NIM) in the December quarter is expected to contract marginally due to rise in cost of deposit. NIM is likely to drop to 4.42% in Q3FY24 as against 4.53 in Q2FY24 and against 4.65% in Q3FY23. 

20 Jan 2024, 08:35:18 AM IST

ICICI Bank Q3 Results Live: NII growth estimated at 12.2% to ₹18,478 crore

ICICI Bank Q3 Results Live: ICICI Bank’s net interest income (NII), which is the difference between interest earned and interest paid, during the third quarter of FY24 is expected to rise 12.2% to 18,478 crore from 16,465 crore in the corresponding quarter of last fiscal year, as per brokerage estimates.

20 Jan 2024, 08:20:59 AM IST

ICICI Bank Q3 Results Live: Lender likely to post 20% growth in net profit

ICICI Bank Q3 Results Live: ICICI Bank Q3 net profit on a standalone basis is expected to rise 20.3% to around 10,000 crore from 8,312 in the same quarter of last fiscal year, as per average brokerage estimates. Healthy fee income and stable cost ratios is likely to support Pre-provisions operating profit (PPOP) growth.

20 Jan 2024, 08:06:35 AM IST

ICICI Bank Q3 Results Live: Loan growth to remain healthy

ICICI Bank Q3 Results Live: ICICI Bank’s Q3 loan loan growth is expected to remain healthy, led by Retail and SME segments. Expect credit costs to inch up slightly; adequate contingency buffers to add comfort, while margin trajectory is likely to compress .

20 Jan 2024, 07:50:16 AM IST

ICICI Bank Q3 Results Live: ICICI Bank to post decent Q3 results

ICICI Bank Q3 Results Live: The second largest private sector lender in India, ICICI Bank is expected to report decent earnings for the third quarter of FY24 with strong net profit and net interest income (NII) growth supported by healthy fee income, stable cost ratios to and benign credit costs. Margin compression is likely to be visible in Q3FY24. Advances growth is estimated to be healthy, while no challenges are seen on asset quality. 

20 Jan 2024, 07:38:41 AM IST

ICICI Bank Q3 Results Live: ICICI Bank to report Q3 results today

ICICI Bank Q3 Results Live: ICICI Bank, the second largest private sector lender in India, will announce its Q3 results today. The bank is expected to report decent earnings for the third quarter of FY24.

 

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