ICICI Bank Q3 Update: ICICI Bank announced on Tuesday, December 24, that it will conduct its board meeting on Saturday, January 25 to consider its upcoming October-December quarter results for the current fiscal (Q3FY25). India's second-largest private bank also announced that the trading window for dealing in its securities will remain closed for all designated bank officials (including Directors) and their relatives from January 1 to January 27, 2025 (both days inclusive).
“We wish to inform you that the meeting of the Board of Directors of the Bank is scheduled to be held on Saturday, January 25, 2025, to, inter alia, consider and approve the unaudited financial results (standalone and consolidated) for the quarter and nine months ending December 31, 2024,” said ICICI Bank in its regulatory filing to the stock exchanges on Tuesday.
“In view of the above and pursuant to the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015 read with ICICI Bank Code on Prohibition of Insider Trading, the Trading Window for dealing in the securities of the Bank will remain closed for all Designated Persons of the Bank (including Directors) and their immediate relatives from January 1, 2025 to January 27, 2025 (both days inclusive),” added ICICI Bank.
ICICI Bank’s core net interest income rose by 9.5 per cent YoY to ₹20,048 crore in the July-September quarter of 2024-25 (Q2FY25), driven by a 15.7 per cent expansion in its domestic loan portfolio. The net interest margin was lower at 4.27 per cent, down from 4.53 per cent a year earlier, as interest-earning asset (IEA) yields softened to 9.20 per cent.
Also Read: ICICI Bank Q2 results: Net profit rises 14.47% to ₹11,745.88 crore, interest income rises 16.08%
The bank's non-interest income grew 10.8 per cent to ₹6,496 crore in the September quarter, primarily fueled by a 13.3 per cent rise in fee income, which reached ₹5,894 crore. The bank's core operating profit grew by 12.1 per cent YoY to ₹16,043 crore in Q2 from ₹14,314 crore in Q2FY24.
The bank's profit after tax climbed 14.5 per cent YoY, reaching ₹11,746 crore compared to ₹10,261 crore in Q2 FY24. In terms of asset quality, the gross NPA ratio improved to 1.97 per cent as of September 30, 2024, down from 2.15 per cent at the end of the previous quarter, while the net NPA ratio slightly declined to 0.42 per cent from 0.43 per cent.
The banking heavyweight has given 30 per cent returns to investors in the last one year. On Tuesday, shares of ICICI Bank settled 0.10 per cent higher at ₹1,297.65 against a 52-week high of ₹1,361.35 apiece on the BSE. ICICI Bank last declared a dividend of ₹10 in August 2024. According to the stock exchanges, the bank commands a market cap of ₹9,15,883.94 crore.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.