ICICI Bank loan payment: Lower MCLR for ICICI Bank customers has come into effect from October 1, i.e. today. Photo: Reuters
ICICI Bank’s home finance arm reported a net profit of Rs 117 crore in Q1 FY25. The company’s advances grew from Rs 22520 crore to Rs 23700 crore during the quarter. The company’s capital adequacy ratio improved from 19.9 percent to 22.2 percent in the quarter.
ICICI Bank has invested Rs 500 crore in its home finance subsidiary, ICICI Home Finance, in the first quarter of FY 2025. Sandeep Batra, Executive Director (ED) of the bank, has given this information. The bank announced its quarterly results today, July 27. During the June quarter, the bank’s standalone net profit grew 14.6 percent year-on-year to Rs 11,059.11 crore, up from Rs 9648.20 crore a year ago. Batra said after the results, “In Q1-2025, we did some equity. We put in about Rs 500 crore.”
ICICI Bank has so far invested Rs 1862 crore in its subsidiary
ICICI Bank has so far invested Rs 1862 crore through equity in the subsidiary. The home finance arm of the bank reported a net profit of Rs 117 crore in Q1 FY25. The company’s advances grew from Rs 22520 crore to Rs 23700 crore during the quarter. The company’s capital adequacy ratio increased from 19.9 percent to 22.2 percent during the quarter.
Talking about asset quality, Stage-3 gross impaired loans increased to Rs 405 crore from Rs 391 crore in the previous quarter. And Stage-3 net impaired loans increased from Rs 239 crore to Rs 248 crore.
ICICI Bank results were better than expected
ICICI Bank has reported better-than-expected results for the June quarter. 7 brokerages had estimated the bank to report a net profit of Rs 10,614 crore. The bank’s net interest income stood at Rs 19,552.9 crore, up 7.3 percent over the same quarter last year and also higher than market expectations of Rs 19,515 crore.
