{"id":85009,"date":"2023-01-22T12:17:00","date_gmt":"2023-01-22T06:47:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=85009"},"modified":"2023-01-22T12:15:42","modified_gmt":"2023-01-22T06:45:42","slug":"biz-results-ld-icici-bank-corrected","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-ld-icici-bank-corrected\/","title":{"rendered":"ICICI Bank Q3 Results: Consolidated net profit jumps 34% to Rs 8,792 crore on core income growth"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-128844025\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2216033202\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The second largest private sector lender&#8217;s profit after tax grew 34.2 per cent to Rs 8,312 crore in the quarter, despite additional hit on account of a change in policies and also making prudential provisions.<\/p><p>The bank&#8217;s core net interest income grew 34.6 per cent to Rs 16,465 crore during the reporting quarter on the back of a nearly 20 per cent growth in advances and a nearly 0.7 per cent expansion in the net interest margin to 4.65 per cent.<\/p><p>Its executive director Sandeep Batra said that in a rising interest rate environment like the current one, the margins expand as the loans get repriced faster when compared to deposits which get repriced with a lag. The Net Interest Margins (NIMs) will reach a peak in a quarter or two and then stabilise, he said.<\/p><div class=\"trade-content_5\" id=\"trade-2134094455\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The bank posted a deposit growth at a slower 10.3 per cent amid the &#8216;war for deposits&#8217; in the system, and the management pointed out to comfortable levels on liquidity coverage when asked about the divergence.<\/p><p>The non-interest income increased 1.8 per cent to Rs 4,987 crore, excluding treasury income.<\/p><p>On the asset quality front, the gross non-performing assets ratio improved to 3.07 per cent from the quarter ago period&#8217;s 3.19 per cent and 4.13 per cent in the year-ago period.<\/p><p>The gross slippages for the quarter came at Rs 5,723 crore, of which a bulk Rs 4,159 crore was from the retail and the rural banking segments and Rs 1,500 crore was from corporates and small business segments, of which Rs 800 crore was from advances already restructured earlier.<\/p><p>From a provisions perspective, the bank set aside a total of Rs 2,257 crore, which included Rs 1,500 crore in prudential provisions to take the overall buffer to Rs 11,500 crore and also impact of a policy change on provisioning.<\/p><p>Batra explained that the bank had chosen to make additional provisions from a prudential perspective for another quarter, given the global macro environment filled with volatilities and also the high inflation.<\/p><div class=\"trade-content-10\" id=\"trade-322125830\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>He said the bank does not expect the transition to the expected credit loss based provisioning system to have any impact on the provisions.<\/p><p>On the loan growth front, the domestic advances grew 21.4 per cent, retail grew 23.4 per cent, business banking grew 37.9 per cent and wholesale grew 18.2 per cent.<\/p><p>The bank&#8217;s network has grown by 300 branches to over 5,700 branches and it has hired over 11,000 people this fiscal to take its overall employee strength to over 1.17 lakh, Batra said.<\/p><p>Its overall capital adequacy as on December 31, 2022 stood at 16.26 per cent.<\/p><p>Among the subsidiaries, its life insurance arm&#8217;s post tax profit decreased to Rs 221 crore from Rs 311 crore, general insurance arm&#8217;s net grew 11 per cent to Rs 353 crore, asset management arm ringed in Rs 420 crore as against Rs 334 crore and the brokerage arm had a reduction in profit to Rs 281 crore. PTI AA HVA<\/p><div class=\"trade-after-content\" id=\"trade-2803480329\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance. The second largest private sector lender&#8217;s profit after tax grew 34.2 per cent to Rs 8,312 crore in the quarter, despite additional hit [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-85009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICICI Bank Q3 Results: Consolidated net profit jumps 34% to Rs 8,792 crore on core income growth - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-ld-icici-bank-corrected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICICI Bank Q3 Results: Consolidated net profit jumps 34% to Rs 8,792 crore on core income growth\" \/>\n<meta property=\"og:description\" content=\"ICICI Bank on Saturday reported a 34.5 per cent jump in its net profit at Rs 8,792 crore in December 2022 quarter on a consolidated basis, helped by an overall healthy performance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-results-ld-icici-bank-corrected\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-22T06:47:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/ICICI-Bank-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/ICICI-Bank-cover.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-results-ld-icici-bank-corrected\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-results-ld-icici-bank-corrected\/\",\"name\":\"ICICI Bank Q3 Results: Consolidated net profit jumps 34% to Rs 8,792 crore on core income growth - 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