On Saturday, ICICI Bank announced a 30% increase in standalone net profit for the quarter ending September 30, 2021, to Rs 5,511 crore. It was Rs 4,251 crore a year earlier.
ICICI Bank Q2 Results:
From Rs, 9,366 crores in Q2FY21 to Rs 11,690 crores in Q2FY22, net interest income (NII) increased by 25% year on year to Rs 11,690 crore.
The net interest margin (NIM), which is a measure of profitability, was 4% in Q2FY22, compared to 3.89 per cent in Q2FY21 and 3.57 per cent in Q1FY22. In Q2FY22, the bank’s provision book fell by 9% YoY to Rs 2,714 crore, down from Rs 2,995 crore in Q2FY21.
Also, the lenders stock closed 0.3 per cent higher on the BSE on Friday, at Rs 759.10.
The Gross Non-performing Assets
Net non-performing assets fell 12% sequentially to Rs 8,161 crore on September 30, 2021, down from Rs 9,306 crore on June 30, 2021.
On September 30, 2021, the net NPA ratio was 0.99 per cent, down from 1.16 per cent on June 30, 2021. From Rs 7,231 crore in Q1FY22, gross NPA additions fell to Rs 5,578 crore in Q2FY22.
In Q2FY22, recoveries and upgrades of nonperforming assets (NPAs), excluding write-offs and sales, climbed to Rs 5,482 crore from Rs 3,627 crore in Q1FY22.
In absolute terms, “The net NPAs declined by 12 per cent sequentially to Rs 8,161 crore at September 2021 from Rs 9,306 crore at June 2021,” said ICICI Bank.
“Recoveries and upgrades of NPAs, excluding write-offs and sale, increased to Rs 5,482 crore from Rs 3,627 crore on a sequential basis. The gross NPAs written off were Rs 1,717 crore in Q2FY22,” it added.
On September 30, 2021, total deposits had increased by 17% year on year to Rs 9.7 trillion. On a standalone basis, the total capital adequacy ratio was 19.52 per cent and the Tier-1 capital adequacy ratio was 18.53 per cent as of September 30, 2021.
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