ICICI Bank (ICICIBANK) Q2 24/25 earnings summary

Executive summary

• Profit after tax rose 14.5% year-over-year to ₹117.46 billion (₹11,746 crore) in Q2-2025, with consolidated profit after tax up 18.8% to ₹129.48 billion (₹12,948 crore) and core operating profit up 12.1% to ₹160.43 billion.

• Profit before tax (excluding treasury) increased 7.9% year-over-year to ₹148.1 billion (₹14,810 crore).

• Domestic loans and deposits both grew 15.7% year-over-year, led by retail and business banking portfolios.

• Asset quality improved, with net NPA ratio at 0.42% and provision coverage at 78.5% as of September 30, 2024.

• Digital channels drove significant growth in retail product sourcing, payments, and trade transactions, with 72% of trade transactions done digitally.

Financial highlights

• Net interest income increased 9.5% year-over-year to ₹200.48 billion (₹20,048 crore); net interest margin was 4.27% in Q2-2025, down from 4.53% a year ago.

• Non-interest income (excluding treasury) grew 10.8% year-over-year to ₹64.96 billion (₹6,496 crore); fee income up 13.3% to ₹5,894 crore.

• Operating expenses rose 6.6% year-over-year; cost-to-income ratio improved to 38.6% in Q2-2025 from 40.6% a year ago.

• Provisions (excluding tax) were ₹12.33 billion (₹1,233 crore); provision/average advances at 0.38%.

• Return on average assets was 2.39% and standalone return on equity was 18.1% for Q2-2025.

Outlook and guidance

• Margins expected to remain broadly stable in the near term; any rate cut cycle will see loans reprice faster than deposits.

• Credit costs expected to gradually normalize but remain well below historical levels; no signs of significant stress.

• Focus remains on risk-calibrated profitable growth, technology investment, and operational resilience.

• Forward-looking statements highlight risks from regulatory changes, economic conditions, and asset quality.