MUMBAI: ICICI Financial institution reported a file quarterly internet revenue of Rs 11,746 crore for the quarter ended September 30, marking a 14.5% enhance from Rs 10,261 crore in the identical interval final yr. Internet curiosity earnings (NII) rose 9.5% to Rs 20,048 crore, in comparison with Rs 18,308 crore within the corresponding quarter of the earlier yr.
Deposits grew quicker than the business common, reaching Rs 14,97,761 crore, a 15.7% rise from Rs 12,94,742 crore on the finish of the year-ago quarter. Advances additionally noticed a 15% enhance, amounting to Rs 12,77,240 crore, up from Rs 11,10,542 crore in the identical interval final yr.
ICICI Financial institution’s asset high quality improved, with gross non-performing belongings (NPAs) declining to 1.9% from 2.1% a yr earlier. Internet NPAs decreased to 0.42% as of Sept 30, 2024, from 0.43% as of June 30, 2024.
The financial institution’s whole capital adequacy ratio stood at 16.6%, and its Widespread Fairness Tier 1 (CET-1) ratio was at 15.9%, each properly above the regulatory minimal necessities of 11.7% and eight.2%, respectively.
In the meantime, Sure Financial institution reported a internet revenue ofRs 553 crore for the quarter ended Sept 2024, a rise of 145.6% over Rs 225 crore within the corresponding quarter of the earlier yr.
The financial institution’s internet curiosity earnings rose to Rs 2,200 crore, a rise of 14.3% overRs 1,925 crore within the corresponding quarter of the earlier yr. Deposits rose 18% to Rs 2,77,214 crore from Rs 2,34,360 crore on the finish of the corresponding quarter of the earlier yr. The financial institution’s advances stood atRs 2,35,117 crore, a rise of 12.4% over Rs 2,09,106 crore on the finish of Sept 2023.
Saying the outcomes, Sure Financial institution MD & CEO Prashant Kumar stated: “The second quarter efficiency has been extraordinarily encouraging, particularly within the context of business headwinds. Deposit momentum has been maintained with 18% year-on-year development and a wholesome CASA (present and financial savings account) ratio enlargement to 32% from 29.4% a yr in the past.” The financial institution’s gross NPAs declined to 1.6% from 2.0% a yr in the past.
