ICICI Bank first-quarter profit jumps 15.9% on strong loan growth, lower provisions
India’s ICICI Bank reported a 15.9% year-over-year increase in first-quarter net profit on Saturday, beating market expectations as strong loan growth and lower provisions boosted earnings.
The lender reported a standalone net profit of ₹148 billion for the April-June quarter, exceeding analyst estimates of about ₹131.8 billion. ICICI Bank’s net interest income rose 12.7% to ₹243.8 billion, supported by a 19.6% increase in domestic loans and a 14% growth in deposits. The bank also reduced provisions for bad loans by 30.5%, helping improve overall profitability during the quarter.
The bank’s gross non-performing asset (NPA) ratio improved slightly to 1.38%, reflecting stable asset quality despite a competitive lending environment.
According to the Brussels Morning Newspaper, the latest results underline the strength of India’s private sector banks, where lenders continue to benefit from healthy consumer borrowing, business lending, and expanding digital banking services. Stable margins and disciplined lending practices have enabled leading private banks to outperform expectations despite evolving interest-rate conditions.
Investors are now expected to closely monitor upcoming earnings from other major private lenders to gauge the overall health of India’s banking sector, the newspaper reported.
ICICI Bank’s stronger-than-expected earnings reinforce confidence in India’s financial sector, according to the Brussels Morning Newspaper. Market participants will now watch future loan demand, deposit growth, and Reserve Bank of India policy decisions for signs of continued momentum during the remainder of the financial year.
In other developments, Kotak Bank reported a 26% jump in first-quarter profit, also beating estimates. Yes Bank reported a 34% jump in profit on higher loan growth. HDFC Bank reported a 5% rise in first-quarter profit, meeting estimates.
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