Private sector lender ICICI Bank on Saturday reported a 14.6% year-on-year rise in its net profit for the first quarter of the current financial year (QIFY25), driven by higher treasury and other income. For the three months to June, the bank’s net profit was ₹11,059 crore, compared with ₹9,648 crore in the same period last year.
Growth in non-interest income, or other income, was a significant contributor, rising 23.3% year-on-year (YoY). India’s second-largest private bank saw a rise in dividend income from its subsidiaries, with other income totaling ₹6,389 crore, compared to ₹5,183 crore a year ago. Notably, dividend income increased to ₹894 crore from ₹291 crore in the corresponding quarter last year.
There was also a strong turnaround in treasury income at the end of June quarter, which was recorded at ₹613 crore, compared to a loss of ₹281 crore in the previous quarter.
Expenses increased from ₹24,624 crore to ₹29,973 crore during the quarter.
Net interest income (NII), which represents the main income difference between interest earned and paid, rose 7.3% to ₹19,553 crore during April-June from ₹18,226.5 crore in the year-ago period.
However, the bank’s net interest margin (NIM), a key measure of profitability, declined slightly to 4.36% in the June quarter, from 4.4% in the previous quarter, and 4.78% in the same quarter a year ago.
ICICI Bank Q1 results: Net profit grew by 14.6% to ₹11,059 crore, NII up 7.3% YoY
