ICICI Bank Q2 results: Net profit rises 35.8% YoY at ₹10,261 crore

The bank reported a 35.8% YoY rise in its standalone net profit to ₹10,261 for the September quarter of FY24 against ₹7557.84 crore in the year ago period.

The bank shares closed 0.28% lower at ₹932.45 per share on BSE on Friday.

ICIC Bank's net interest income (NII) increased by 23.8% YoY to ₹18,308 crore in the July-September quarter from ₹14,787 crore in the year ago period.

Bank's net interest margin stood at 4.53% in Q2FY24.

Its fees from retail, rural, business banking and SME customers constituted about 78% of total fees in Q2-2024.

Private lender's total capital adequacy ratio stood at 17.59%, including profits for the first half of FY23-24. Bank's Tier-1 capital adequacy ratio was 16.86 per cent on a standalone basis at September 30, 2023.

ICICI's bank September quarter result exceeded the expectations of market experts. However, the private lenders continued to move forward in its growth trajectory predicted by market experts.