India's ICICI Bank beats Q2 profit view on healthy loan demand, margins shrink
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 26 2024
0mins
Source: Reuters
ICICI Bank's Financial Performance: ICICI Bank reported a 14.5% increase in standalone net profit for the July-September quarter, reaching a record 117.46 billion rupees, driven by strong loan growth and core lending income despite a decline in lending margins.
Asset Quality and Provisions: The bank's asset quality improved with a gross non-performing assets (NPA) ratio of 4.27%, while provisions for potential bad loans rose significantly to 12.33 billion rupees, reflecting increased caution amid stress in unsecured and microfinance loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
