ICICI Bank Reports Improved Loan Quality and Record High Net Interest Income for Q3 2024
ICICI Bank has recently reported its financial results for the quarter ending December 2024, showcasing a range of noteworthy trends. The bank's gross non-performing assets (NPA) have reached a low of 1.96%, continuing a downward trajectory observed over the last five quarters. This decline indicates an improvement in the quality of the bank's loan portfolio, as the proportion of stressed loans is decreasing.In terms of net interest income, ICICI Bank achieved a record high of Rs 20,370.61 crore, reflecting consistent growth in its core business operations. The interest earned also reached a peak of Rs 41,299.82 crore, suggesting a robust sales trend in the near term. Profit after tax (PAT) stood at Rs 11,792.42 crore, marking a positive trend in profitability, while operating profit (PBDIT) was recorded at Rs 9,818.50 crore, further emphasizing the bank's strong performance.
Earnings per share (EPS) also hit a high of Rs 16.70, indicating enhanced profitability for shareholders. Additionally, the credit deposit ratio was at 86.45%, demonstrating the bank's effective management of loans against deposits.
However, it is worth noting that non-operating income constituted 45.13% of profit before tax, which may raise concerns regarding the sustainability of income sources.
Overall, ICICI Bank's recent evaluation changes reflect a complex landscape of financial performance.
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