We will continue to make investments in technology, people, and distribution: Sandeep Bakhshi

Mumbai: ICICI Bank, one of India’s leading private lenders, reported robust financial results for the quarter ended December 31, 2024, showcasing its continued emphasis on sustainable growth, innovation, and financial inclusion. The bank’s standalone profit after tax rose by 14.8% year-on-year, reaching ₹11,792 crore, driven by operational efficiency and a customer-centric approach.

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The net interest income grew by 9.1% year-on-year to ₹20,371 crore, supported by improved margins and an expanding loan portfolio. ICICI Bank sustained strong asset quality, with the gross NPA ratio improving to 1.96%, while the net NPA was 0.42%. The return on assets (ROA) stood at 2.36%, and the return on equity (ROE) reached 17.6%, reflecting healthy profitability. The bank’s capital position remained robust, with a CET-1 ratio of 15.93% for nine months ended December 31, 2024.

 Sandeep Bakhshi, MD & CEO of ICICI Bank, said, “We believe our focus on customer 360 degree, extensive franchise and collaboration within the organisation, backed by our focus on enhancing delivery systems and simplifying processes will enable us to deliver holistic solutions to customers in a seamless manner and grow market share across key segments.”

 Deposit Growth

ICICI Bank’s deposit portfolio demonstrated healthy growth, increasing by 14.1% year-on-year to ₹15,20,309 crore as of December 31, 2024. Term deposits registered a 12.5% year-on-year growth, reinforcing the bank’s strategy of building a stable deposit base. The CASA ratio stood at 39%, reflecting its ability to maintain a low-cost funding structure.

Expanding Loan Book

The bank’s loan portfolio grew by 13.9% year-on-year, with retail loans accounting for 52.4% of the total portfolio, and growing by 10.5% year-on-year. Business banking loans registered a remarkable 31.9% growth, while the corporate portfolio grew by 13.2% year-on-year. The rural portfolio also expanded by 12.2%, underscoring the bank’s commitment to meeting the diverse needs of its customers.

Driving Digital Innovation

ICICI Bank continued to lead in digital innovation, enhancing customer experiences through cutting-edge technology. The recently introduced DigiEase platform streamlines customer onboarding for business banking, offering integrated digital workflows for seamless service delivery. Upgrades to the iLens retail lending platform now cover retail credit cards, mortgages, personal loans, and education loans, creating a unified lending experience.

The bank also launched the “Dream Car Search” platform, designed to simplify the car-buying journey with more personalised solutions, while optimizing operational efficiency. Additionally, higher activation rates through digital onboarding, underscore the bank’s leadership in leveraging technology to enhance customer convenience.

“We will continue to make investments in technology, people, distribution and building our brand. We are laying strong emphasis on strengthening our operational resilience for seamless delivery of services to customers.” added Sandeep Bakhshi.

Advancing Financial Inclusion and Sustainability

In Q3 FY25, ICICI Bank continued to advance its Environmental, Social, and Governance (ESG) agenda. The bank extended credit to over 2.30 lakh women entrepreneurs through SHG loans, furthering its commitment to financial inclusion and women’s empowerment. ICICI Bank is also actively financing renewable energy projects and driving resource efficiency, reflecting its dedication to sustainable growth.

Disclaimer: The above is a featured article.