ICICI Bank's Q1 profit rises 15.5% to ₹12,768 crore
ICICI Bank just reported a strong start to the year—its April-June profit hit ₹12,768 crore, up 15.5% from last year and ahead of what analysts expected.
Net interest income also rose to ₹21,635 crore, showing the bank is making more from its core lending business.
Main profits up by 13.6%
The bank's main profits grew by 13.6%, with both loans and deposits seeing solid double-digit growth.
But there's a catch: its net interest margin (how much it earns on loans after costs) dipped to 4.34%, and could shrink further next quarter.
Asset quality stayed steady
Despite higher provisions for potential bad loans (₹1,814 crore this quarter vs ₹890 crore last time), asset quality stayed steady—bad loans are low at just 1.67%.
Shares are still up 11% for the year.
Results are indicative of the sector's health
As India's second-biggest private bank, ICICI's results are indicative of the sector's health.
The numbers show disciplined risk-taking and steady growth even when rates are moving around—a good sign if you're watching how big banks handle changing times.