ICICI Bank Q3 net up 25% as interest income rises; asset quality improves

Last week, HDFC Bank had reported an increase of 18 per cent in its third quarter net profit at Rs 10,342 crore.

Net interest income (NII) for ICICI Bank increased by 23 per cent year-on-year to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore. The net interest margin was 3.96 per cent, compared to 3.67 per cent in Q3 of FY21 and 4.00 per cent in the quarter ended September 2021.

The value of mobile banking transactions increased by 50 per cent year-on-year to Rs 4,55,326 crore. Digital channels like internet, mobile banking, point of sale (PoS) and others accounted for over 90 per cent of the savings account transactions in the nine months of FY2022.

The private bank’s retail loan portfolio grew by 19 per cent year-on-year and 5 per cent sequentially, and comprised 61.3 per cent of the total loan portfolio as of December 2021. Including non-fund outstanding, the retail loan portfolio was 51.3 per cent of the total portfolio.

It said the value of credit card spends in Q3FY22 was 2.2 times the value of credit card spends in Q3FY21, and grew by 27 per cent sequentially. ICICI Bank’s business banking portfolio grew 39 per cent year-on-year and 9 per cent sequentially.

The SME business, comprising borrowers with a turnover of less than Rs 250 crore, grew by 34 per cent year-on-year and 10 per cent sequentially. Growth in the domestic wholesale banking portfolio was 13 per cent year-on-year and 9 per cent sequentially. Domestic advances grew by 18 per cent year-on-year and 6 per cent sequentially as of December 2021.

Total advances increased by 16 per cent year-on-year and 6 per cent sequentially to Rs 8,13,992 crore in the third quarter. Total deposits rose by 16 per cent year-on-year and 4 per cent sequentially to Rs 10,17,467 crore as of December 2021.

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Yes Bank profit rises to Rs 266 crore

New Delhi: Private sector lender Yes Bank on Saturday reported a 77 per cent jump in profit to Rs 266.43 crore for the third quarter ended December 2021. The bank had posted a profit of Rs 150.77 crore in the October-December quarter a year ago.

However, total income during the quarter under review declined to Rs 5,632.03 crore from Rs 6,408.53 crore in the same period last fiscal, Yes Bank said in a regulatory filing. Net interest income also slipped by 31 per cent to Rs 1,764 crore as compared to Rs 2,560 crore in the same quarter a year ago.

The bank’s gross non-performing assets (GNPAs) as a percentage of assets eased to 14.65 per cent during the quarter from 15.36 per cent in the year-ago period. PTI