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ICICI Bank Ltd continued to contribute Rs 15 billion, but reported another quarter of magical performance with the bank reporting in-line income (return on assets of 2.1%). Core pre-planning operating profit grew 24% YoY. Net interest margin increased by 30 bps QoQ to 4.31%.
Asset quality continues to show exemplary performance as the bank further improved its gross non-performing assets/net non-performing assets ratio. The bank now has a total contingency buffer of Rs 100 billion.
Business growth remains strong and broad-based, with growth of 23% YoY and 5% QoQ, led by both the retail and corporate segments.
ICICI Bank continues to invest in technology and digital initiatives to accelerate and sustain momentum.
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