ICICI Bank’s Profit Soars, Net Interest Income Sees Jump in Q3 FY25
Mumbai: ICICI Bank, one of India’s leading private sector lenders, has declared its quarterly performance for the December quarter of 2024, showcasing impressive figures. According to the bank’s latest results, its net profit has witnessed a significant 15% increase from the corresponding quarter last year. Additionally, net interest income saw a noteworthy gain of 9.1%, further demonstrating the bank’s stronghold in the rapidly growing Indian economy.
For the quarter ending December 31st, 2024, the bank’s total income grew 12.9% to stand at Rs 23,133 crore. Breakdown analysis suggests that interest income, comprising interests earned from fixed deposits and interest on loans and advances, augmented by 7.8%. Non-interest income, encompassing fees from customers, other loan-related fees and commissions, further contributed to a 10-year high. NII growth (Net Interest Income) during this period saw substantial growth at Rs 7,311 crore compared to the prior year, fueled by sustained core banking activities.
"We see a very sustainable growth, where we’ve performed well, whether it is, in terms of the numbers which we have produced, the volume growth we had, and importantly, we still have some pipeline of lending books which will reflect in our book in the going forward. Going forward, given the industry position, which the bank enjoys… we should able to leverage from that." — Sandeep Bakhle, Executive Director, ICICI Bank.
It is significant for the banking company to focus not only on earnings growth but, more notably, on quality to ensure steady economic growth for individuals and corporate partners. Additionally, the rise and fall in bank’s risk is crucially tracked by RBI policymakers. Despite minor fluctuations in Indian stock exchanges from time to time, these significant growth signs would be looked-forward to and further contribute towards sustaining the steady improvement in economy to date. Therefore, there doesn’t appear the slightest danger ahead for a company with these trends.
Moreover, the management reiterates positive outlook towards interest rates with ICICI’s managing director expressing comfort with rising domestic interest rates under the central bankers’ careful administration. Furthermore, the loan composition has experienced gradual shift with substantial growth observed at the bank-side in mortgage growth, where individual home and house loan demands witness a massive pick-up following this pandemic-related lock-down situation the world encountered the past. And the growing middle class as result of better employability options or higher savings.
Looking through the crystal lens, experts speculate that Indian monetary policy board actions, for quite some period yet, in managing inflation (8.1%-8.1% this previous quarter in official data from sources) at multi-year peaks alongside a somewhat mixed economic indicators – such as slow industrial expansion; and growing price pressures at times – but other factors might prompt RBI governors decisions on raising deposit rates from earlier lows; therefore, with stable interest environment there’s optimism all around on their financial standing from now and, as you anticipate, forward financial year of operation.
"Clearly, with, the GDP picking up pace globally, in combination with better fundamentals, like consumer spending or low inflation environment worldwide, one looks forward towards such growth potential or growth trend continues to build forward momentum on various fronts; where we as professionals are all equally excited with long-term, consistent growth rate ICICI, I think ICICI Bank. What we should then expect the impact of our customers’ cash growth on these kinds of, positive trends" &mdash𠀔 said Kapil S Khandelwal, Group Capital Markets Manager here.
From other side in current situation. Indian economy can go through challenges especially with external shock, foreign, or import side, on goods and other non-essential service sectors (travel, accommodation related, "Luxuriant life” items.) At the very recent past for their growth of total foreign money deposited in a non-resident RBI account that Indian rupees – foreign funds with the possibility some foreign currencies) in other reserve bank for more than last full year that also is important figure for some specific economic analysts – it gives that a particular area of uncertainty there. If anything, if and when you experience any future difficulties, one believes that central decision-makers here within the economy’s control at appropriate time steps be taken towards stable economic state maintaining.
These announcements are promising yet, of continued growth from present trends seen since the global challenges and international policy decisions were initially taken with many other related data. There still remains plenty at stake ahead at ICICI that we continue monitor closely these quarterly results’ latest developments; if there’s interest in understanding an ICICI loan, to secure your interest through the banks other financial assistance channels.
