ICICI Bank on Saturday reported a 19 per cent year-on-year (YoY) increase in its net profit for the October-December quarter of the ongoing financial year at Rs 4,940 crore. Sequentially, net profit rose 16 per cent from Rs 4,251 crore in the preceding July-September quarter.
The private sector lender’s net interest income grew 16 per cent to Rs 9,912 crore during October-December. Net interest margin contracted to 3.67 per cent from 3.77 per cent in the December quarter of the previous year. However, it expanded 10 basis points from 3.57 per cent in the September quarter.
The bank’s total deposits increased 22 per cent YoY to Rs 8,74,348 crore as of December 31, 2020. The current account and savings account (CASA) deposits grew by 19 per cent, while the average CASA ratio was at 41.8 per cent during the quarter, ICICI Bank said in a release.
The bank’s net NPA ratio stood at 0.63 per cent as of December 31, 2020. However, if not for the Supreme Court order, which said that the accounts not declared as NPA till August 31, 2020, should not be declared NPA till further orders, ICICI Bank’s net NPA ratio would have been 1.26 per cent.
“During Q3-2021, the Bank made contingency provision amounting to Rs 3,012.16 crore for borrower accounts not classified as non-performing pursuant to the interim order of the Supreme Court. The Bank utilized Rs 1,800.00 crore of COVID-19 related provisions made in the earlier periods,” ICICI Bank said.

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