UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a
-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
January 2025
Commission File Number: 001-15002
ICICI Bank Limited
(Translation of registrant’s name into English)
ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)
Indicate by check
mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Table of Contents
Items:
| 1. |
Other news. |
| 2. |
Unaudited financial results
(standalone and consolidated) for the quarter and nine months ended December 31, 2024 |
| 3. |
Limited Review Reports |
| 4. |
News Release |
| 5. |
Annexure |
Item 1.
OTHER NEWS
Subject:
Outcome of Board Meeting held on January 25, 2025
IBN
ICICI Bank Limited
(the ‘Bank’) Report on Form 6-K
The Bank has made
the below announcements to the Indian stock exchanges:
| 1. | Approval
of unaudited financial results of the Bank for the quarter and nine months ended December
31, 2024 |
In terms of Regulation
30, 33, 52(4) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing
Regulations), we write to inform you that the Board of Directors of ICICI Bank Limited (the Bank), at its meeting held today, inter
alia, approved unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2024.
We enclose herewith the following:
| o | Unaudited financial
results (standalone and consolidated) for the quarter and nine months ended December 31,
2024; |
| o | Limited review
reports on the unaudited financial results (standalone and consolidated) issued by B S R
& Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants,
the joint statutory auditors of the Bank for the corresponding period; and |
| o | News Release
on unaudited financial results for the quarter and nine months ended December 31, 2024. |
| 2. | Re-appointment
of Mr. Sandeep Batra (DIN: 03620913) as Executive Director of the Bank: |
The Board of Directors
recorded that the current tenure of Mr. Sandeep Batra (DIN: 03620913) Executive Director of the Bank was up to December 22, 2025. The Board unanimously approved the re-appointment of Mr. Sandeep
Batra for a further period of two years with effect from December 23, 2025 to December 22, 2027, subject to approval of Reserve Bank
of India, shareholders, and such other approvals as may be required.
| 3. | Re-appointment
of Mr. Rakesh Jha (DIN: 00042075) as Executive Director of the Bank |
The Board approved
the proposal for seeking approval from Reserve Bank of India for the re-appointment of Mr. Rakesh Jha (DIN: 00042075) as the Executive
Director of the Bank from September 2, 2025 to September 1, 2027. The Board and shareholders have already approved the appointment of
Mr. Jha as the Executive Director of the Bank upto September 1, 2027.
All the above proposed
re-appointments are in line with RBI Circular RBI/2021-22/24 DOR.GOV.REC.8/29.67.001/2021-22 dated April 26, 2021.
The other details
as required pursuant to Regulation 30 of the SEBI Listing Regulations with regard to re-appointment of Directors are enclosed as Annexure.
Please take the above information on
record.
Item 2.
|
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| ICICI Bank
Limited |
| CIN-L65190GJ1994PLC021012 |
| Registered
Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390
007, Gujarat, Phone:
0265-6722239 |
| Corporate
Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400 051, Maharashtra,
Phone:
022-4008 8900 |
Website:
www.icicibank.com, Email: companysecretary@icicibank.com
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| STANDALONE
FINANCIAL RESULTS |
| (₹
in crore) |
| Sr.
no. |
Particulars |
Three
months ended |
Nine
months ended |
Year
ended |
December
31, 2024
(Q3-2025) |
September
30, 2024
(Q2-2025) |
December
31, 2023
(Q3-2024) |
December
31, 2024
(9M-2025) |
December
31, 2023
(9M-2024) |
March
31, 2024
(FY2024) |
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Interest
earned (a)+(b)+(c)+(d) |
41,299.82 |
40,537.38 |
36,694.58 |
120,832.98 |
104,942.58 |
142,890.94 |
| |
a) |
Interest/discount
on advances/bills |
32,048.40 |
31,426.45 |
28,557.51 |
93,583.39 |
81,520.53 |
110,943.93 |
| |
b) |
Income
on investments |
8,302.14 |
8,311.33 |
7,210.67 |
24,770.05 |
20,848.98 |
28,630.99 |
| |
c) |
Interest
on balances with Reserve Bank of India and other inter-bank funds |
489.59 |
517.11 |
454.19 |
1,449.70 |
1,361.23 |
1,791.39 |
| |
d) |
Others |
459.69 |
282.49 |
472.21 |
1,029.84 |
1,211.84 |
1,524.63 |
| 2. |
Other
income1 |
7,068.05 |
7,176.66 |
6,097.06 |
21,246.63 |
17,308.99 |
22,957.77 |
| 3. |
TOTAL
INCOME (1)+(2) |
48,367.87 |
47,714.04 |
42,791.64 |
142,079.61 |
122,251.57 |
165,848.71 |
| 4. |
Interest
expended |
20,929.21 |
20,489.40 |
18,016.03 |
60,861.48 |
49,729.66 |
68,585.22 |
| 5. |
Operating
expenses (e)+(f) |
10,552.11 |
10,501.46 |
10,051.99 |
31,583.56 |
29,429.90 |
39,132.73 |
| |
e) |
Employee
cost |
3,929.05 |
4,136.14 |
3,812.67 |
12,435.70 |
11,421.75 |
15,141.99 |
| |
f) |
Other
operating expenses |
6,623.06 |
6,365.32 |
6,239.32 |
19,147.86 |
18,008.15 |
23,990.74 |
| 6. |
TOTAL
EXPENDITURE EXCLUDING PROVISIONS AND CONTINGENCIES (4)+(5) |
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31,481.32 |
30,990.86 |
28,068.02 |
92,445.04 |
79,159.56 |
107,717.95 |
| 7. |
OPERATING
PROFIT BEFORE PROVISIONS AND CONTINGENCIES (3)–(6) |
16,886.55 |
16,723.18 |
14,723.62 |
49,634.57 |
43,092.01 |
58,130.76 |
| |
| 8. |
Provisions
(other than tax) and contingencies |
1,226.65 |
1,233.09 |
1,049.37 |
3,791.92 |
2,924.44 |
3,642.93 |
| 9. |
PROFIT
FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8) |
15,659.90 |
15,490.09 |
13,674.25 |
45,842.65 |
40,167.57 |
54,487.83 |
| 10. |
Exceptional
items |
.. |
.. |
.. |
.. |
.. |
.. |
| 11. |
PROFIT
FROM ORDINARY ACTIVITIES BEFORE TAX (9)–(10) |
15,659.90 |
15,490.09 |
13,674.25 |
45,842.65 |
40,167.57 |
54,487.83 |
| 12. |
Tax
expense (g)+(h) |
3,867.48 |
3,744.21 |
3,402.71 |
11,245.24 |
9,986.83 |
13,599.56 |
| |
g) |
Current
tax |
3,902.77 |
3,306.43 |
3,366.19 |
10,535.76 |
9,750.08 |
12,050.65 |
| |
h) |
Deferred
tax |
(35.29) |
437.78 |
36.52 |
709.48 |
236.75 |
1,548.91 |
| 13. |
NET
PROFIT FROM ORDINARY ACTIVITIES AFTER TAX (11)–(12) |
11,792.42 |
11,745.88 |
10,271.54 |
34,597.41 |
30,180.74 |
40,888.27 |
| 14. |
Extraordinary
items (net of tax expense) |
.. |
.. |
.. |
.. |
.. |
.. |
| 15. |
NET
PROFIT FOR THE PERIOD (13)–(14) |
11,792.42 |
11,745.88 |
10,271.54 |
34,597.41 |
30,180.74 |
40,888.27 |
| 16. |
Paid-up
equity share capital (face value Rs. 2 each) |
1,412.11 |
1,409.45 |
1,403.18 |
1,412.11 |
1,403.18 |
1,404.68 |
| 17. |
Reserves
excluding revaluation reserves |
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232,505.97 |
| 18. |
Analytical
ratios |
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i) |
Percentage
of shares held by Government of India |
0.22% |
0.22% |
0.22% |
0.22% |
0.22% |
0.22% |
| |
ii) |
Capital
adequacy ratio (Basel III) |
14.71% |
15.35% |
14.61% |
14.71% |
14.61% |
16.33% |
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iii) |
Earnings
per share (EPS) |
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a) |
Basic
EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) |
16.72 |
16.68 |
14.65 |
49.13 |
43.12 |
58.38 |
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b) |
Diluted
EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) |
16.45 |
16.40 |
14.40 |
48.30 |
42.34 |
57.33 |
| 19. |
NPA
Ratio2 |
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i) |
Gross
non-performing customer assets (net of write-off) |
27,745.33 |
27,121.15 |
28,774.63 |
27,745.33 |
28,774.63 |
27,961.68 |
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ii) |
Net
non-performing customer assets |
5,897.76 |
5,685.14 |
5,378.48 |
5,897.76 |
5,378.48 |
5,377.79 |
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iii) |
%
of gross non-performing customer assets (net of write-off) to gross customer assets |
1.96% |
1.97% |
2.30% |
1.96% |
2.30% |
2.16% |
| |
iv) |
%
of net non-performing customer assets to net customer assets |
0.42% |
0.42% |
0.44% |
0.42% |
0.44% |
0.42% |
| 20. |
Return
on assets (annualised) |
2.36% |
2.40% |
2.32% |
2.38% |
2.38% |
2.37% |
| 21. |
Net
worth3 |
262,305.12 |
250,418.12 |
215,432.30 |
262,305.12 |
215,432.30 |
227,933.46 |
| 22. |
Outstanding
redeemable preference shares |
.. |
.. |
.. |
.. |
.. |
.. |
| 23. |
Capital
redemption reserve |
350.00 |
350.00 |
350.00 |
350.00 |
350.00 |
350.00 |
| 24. |
Debt-equity
ratio4 |
0.25 |
0.27 |
0.32 |
0.25 |
0.32 |
0.30 |
| 25. |
Total
debts to total assets5 |
6.34% |
6.30% |
7.11% |
6.34% |
7.11% |
6.68% |
| 1. |
During FY2024,
the Bank had transferred accumulated translation loss of Rs. 339.66 crore related to closure of Bank’s Offshore Banking Unit,
SEEPZ Mumbai, to profit and loss account in terms of Accounting Standard 11 - The Effects of Changes in Foreign Exchange Rates. |
| 2. |
At December
31, 2024, the percentage of gross non-performing advances (net of write-off) to gross advances was 2.03% (September 30, 2024: 2.04%,
March 31, 2024: 2.26%, December 31, 2023: 2.37%) and net non-performing advances to net advances was 0.45% (September 30, 2024: 0.45%,
March 31, 2024: 0.45%, December 31, 2023: 0.47%). |
| 3. |
Net worth is
computed as per RBI Master Circular No. RBI/2015-16/70 DBR.No.Dir.BC.12/13.03.00/2015-16 on Exposure Norms dated July 1, 2015. Net
worth also includes Available for Sale (‘AFS’) Reserve. |
| 4. |
Debt represents
borrowings with residual maturity of more than one year. |
| 5. |
Total debts represents
total borrowings of the Bank. |
 |
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| SUMMARISED
STANDALONE BALANCE SHEET |
| (₹
in crore) |
| Particulars |
At |
December
31, 2024 |
September
30, 2024 |
March
31, 2024 |
December
31, 2023 |
| (Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
| Capital and Liabilities |
|
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| Capital |
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|
1,412.11 |
1,409.45 |
1,404.68 |
1,403.18 |
| Employees
stock options/units outstanding |
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1,801.66 |
1,650.74 |
1,405.32 |
1,242.55 |
| Reserves
and surplus |
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268,429.17 |
256,479.80 |
235,589.32 |
224,190.83 |
| Deposits |
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1,520,308.75 |
1,497,760.67 |
1,412,824.95 |
1,332,314.54 |
| Borrowings
(includes subordinated debt) |
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|
127,731.77 |
124,492.93 |
124,967.58 |
126,871.26 |
| Other
liabilities and provisions |
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93,659.67 |
95,064.64 |
95,322.73 |
97,199.72 |
| Total
Capital and Liabilities |
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2,013,343.13 |
1,976,858.23 |
1,871,514.58 |
1,783,222.08 |
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| Assets |
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| Cash
and balances with Reserve Bank of India |
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|
75,780.32 |
89,101.67 |
89,711.70 |
64,869.20 |
| Balances
with banks and money at call and short notice |
|
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|
67,635.18 |
47,696.98 |
50,214.31 |
34,458.91 |
| Investments |
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|
471,978.34 |
479,098.46 |
461,942.27 |
436,649.75 |
| Advances |
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|
1,314,366.05 |
1,277,240.43 |
1,184,406.39 |
1,153,771.02 |
| Fixed
assets |
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11,921.03 |
11,545.62 |
10,859.84 |
10,353.96 |
| Other
assets |
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|
71,662.21 |
72,175.07 |
74,380.07 |
83,119.24 |
| Total
Assets |
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2,013,343.13 |
1,976,858.23 |
1,871,514.58 |
1,783,222.08 |
Notes on standalone finanical results:
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| 1. |
The above standalone
financial results have been approved by the Board of Directors at its meeting held on January 25, 2025. |
| 2. |
The standalone
financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard
25 “Interim Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, the
relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India
(“the RBI”) from time to time and other accounting principles generally accepted in India and, in case of overseas jurisdictions,
generally accepted accounting principles as applicable, and are in compliance with the presentation and disclosure requirements of
the Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by SEBI
from time to time. |
| 3. |
At December
31, 2024, the Bank holds contingency provision of Rs. 13,100.00 crore (September 30, 2024, March 31, 2024 and December 31, 2023:
Rs. 13,100.00 crore). |
| 4. |
Details of loans
sold/acquired by the Bank as per RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021 are given below: |
| |
a) Loans not in
default |
| |
(i) Details
of loans not in default sold/acquired under assignment during nine months ended December 31, 2024: |
| |
₹
in crore |
| |
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Particulars |
Loans
acquired |
Loans
sold |
| |
|
Amount
of loan |
7,419.59 |
.. |
| |
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Weighted
average residual maturity (in years)
|
9.05 |
.. |
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Weighted
average holding period of the originator (in years) |
1.06 |
.. |
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Retention
of beneficial economic interest by the originator |
2,362.11 |
.. |
| |
|
Tangible
security coverage (times) |
1.61 |
.. |
| |
|
1.
The Bank has acquired facilities amounting to Rs. 477.69 crore and has sold facilities amounting to Rs. 60.00 crore during nine months
ended December 31, 2024 through novation. |
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2. In addition,
the Bank has not acquired any loan through risk participation from secondary market. |
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3. The disclosure
includes loans acquired through buyout and co-lending similar to direct assignment. |
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(ii) |
Details of rating-wise
distribution of the loans sold/acquired under assignment during nine months ended December 31, 2024: |
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₹
in crore |
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|
Rating |
Loans
acquired |
Loans
sold |
| |
|
Ind
A-, A+, AA+,AA |
546.97 |
.. |
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|
ICRA
A,AA-,A+ |
172.54 |
.. |
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|
Crisil
A,A+,AA |
45.25 |
.. |
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|
1.
Excluding retail and other unrated loans. |
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|
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b) Stressed loans
(NPA and Special Mention Accounts) |
| |
(i) |
Details of stressed
loans classified as NPA sold by the Bank during nine months ended December 31, 2024: |
| |
₹
in crore |
| |
|
Particulars |
To
ARCs |
To
permitted transferees |
| |
|
Number
of accounts |
24 |
.. |
| |
|
Aggregate
principal outstanding of loans transferred2 |
188.11 |
.. |
| |
|
Weighted
average residual tenor of the loans transferred3 |
.. |
.. |
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Net
book value of loans transferred (at the time of transfer)4 |
.. |
.. |
| |
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Aggregate
consideration |
166.53 |
.. |
| |
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Additional
consideration realized in respect of accounts transferred in earlier years |
.. |
.. |
| |
|
1.
Excess provision reversed/income booked in profit and loss account on account of sale of NPAs to ARCs was Rs. 166.53 crore and no
amount was transferred to other permitted transferees. |
| |
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2. Net of write-off. |
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3. For NPAs, the
Bank issues loan recall notice and initiates legal proceedings for recovery, due to which the weighted average residual tenor is
not applicable. |
| |
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4. Net of write-off
and provisions. |
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(ii) |
The Bank has not
sold/acquired loans classified as Special Mention Account during nine months ended December 31, 2024. |
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(iii) |
The Bank has not
acquired non-performing loans during nine months ended December 31, 2024. |
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(iv) |
Details of rating-wise
distribution of SRs held by the Bank at December 31, 2024: |
|
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|
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|
| |
Rs.
in crore |
| |
|
Rating |
NAV
estimate % |
Carrying
value |
| |
|
RR1 |
Above
100% |
269.95 |
| |
|
RR2 |
Above
75% upto 100% |
.. |
| |
|
RR3 |
Above
50% upto 75% |
234.18 |
| |
|
RR4 |
Above
25% upto 50% |
.. |
| |
|
RR5 |
Upto
25% |
653.38 |
| |
|
Total |
|
1,157.51 |
| |
|
1. The Bank holds
marked-to-market loss of Rs. 336.62 crore and additional provision of Rs. 820.89 crore. |
| |
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| 5. |
There are no
changes in the significant accounting policies applied during 9M-2025 as compared to those applied in FY2024 except for classification
and measurement of investments by the Bank. With effect from April 1, 2024, the Bank has implemented Master Direction issued by the
RBI on Classification, Valuation and Operation of investment Portfolio of Commercial Banks (Directions), 2023 (‘RBI Directions’)
which has introduced significant changes in the basis of classification and accounting of investments and recognition of fair valuation
of gains and losses. Accordingly, in standalone financial results, the Bank has accounted net transition gain of ₹ 2,058.31 crore
(net of tax) and ₹ 1,156.10 crore (net of tax) in Available for Sale (‘AFS’) Reserve and General Reserve respectively
in accordance with the RBI Directions.
Subsequent changes in fair value of performing investments under AFS and Fair Value Through Proft and Loss (‘FVTPL’)
(including Held For Trading (‘HFT’)) categories at December 31, 2024 have been recognised through AFS Reserve and Profit
and Loss account respectively. Accordingly, the amounts for previous periods are not comparable. |
| 6. |
During Q3-2025,
the Bank has allotted 13,288,873 equity shares of Rs. 2 each pursuant to exercise of employee stock options/units. |
| 7. |
Previous period/year
figures have been re-grouped/re-classified where necessary to conform to current period classification. |
| 8. |
The joint statutory
auditors, B S R & Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants, have conducted limited
review and issued an unmodified report on the standalone financial results for Q2-2025, Q3-2025 and 9M-2025. The standalone financial
results for Q3-2024, 9M-2024 and FY2024 were reviewed/audited by the joint statutory auditors, M S K A & Associates, Chartered
Accountants and KKC & Associates LLP, Chartered Accountants, on which they had issued unmodified conclusion/opinion. |
| 9. |
Rs. 1.00 crore
= ₹ 10.0 million. |
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| STANDALONE
SEGMENTAL RESULTS |
| (₹
in crore) |
| Sr.
no. |
Particulars |
Three
months ended |
Nine
months ended |
Year
ended |
December
31, 2024
(Q3-2025) |
September
30, 2024
(Q2-2025) |
December
31, 2023
(Q3-2024) |
December
31, 2024
(9M-2025) |
December
31, 2023
(9M-2024) |
March
31, 2024
(FY2024) |
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Segment
revenue |
|
|
| a |
Retail
Banking |
39,437.70 |
38,750.86 |
34,000.52 |
115,567.02 |
98,137.75 |
134,547.57 |
| b |
Wholesale
Banking |
21,119.32 |
20,388.83 |
19,454.81 |
60,900.30 |
52,907.71 |
71,780.22 |
| c |
Treasury |
34,047.54 |
33,579.54 |
29,473.80 |
100,274.44 |
83,637.99 |
113,959.22 |
| d |
Other
Banking |
1,395.25 |
1,254.38 |
949.56 |
3,339.89 |
2,521.71 |
3,297.30 |
| |
Total
segment revenue |
95,999.81 |
93,973.61 |
83,878.69 |
280,081.65 |
237,205.16 |
323,584.31 |
| |
Less:
Inter segment revenue |
47,631.94 |
46,259.57 |
41,087.05 |
138,002.04 |
114,953.59 |
157,735.60 |
| |
Income
from operations |
48,367.87 |
47,714.04 |
42,791.64 |
142,079.61 |
122,251.57 |
165,848.71 |
| 2. |
Segmental
results (i.e. Profit before tax) |
|
|
|
|
|
|
| a |
Retail
Banking |
5,332.36 |
5,556.19 |
4,288.46 |
15,127.62 |
13,363.06 |
18,849.17 |
| b |
Wholesale
Banking |
5,903.24 |
5,197.53 |
5,746.05 |
16,012.84 |
14,495.75 |
19,971.71 |
| c |
Treasury |
4,218.14 |
4,603.39 |
3,327.70 |
14,295.11 |
11,656.75 |
14,898.40 |
| d |
Other
Banking |
206.16 |
132.98 |
312.04 |
407.08 |
652.01 |
768.55 |
| |
Total
segment results |
15,659.90 |
15,490.09 |
13,674.25 |
45,842.65 |
40,167.57 |
54,487.83 |
| 3. |
Segment
assets |
|
|
|
|
|
|
| a |
Retail
Banking |
776,300.69 |
778,247.73 |
690,053.22 |
776,300.69 |
690,053.22 |
719,313.62 |
| b |
Wholesale
Banking |
539,703.97 |
502,717.35 |
476,924.80 |
539,703.97 |
476,924.80 |
482,456.10 |
| c |
Treasury |
642,457.98 |
644,803.85 |
575,869.22 |
642,457.98 |
575,869.22 |
628,256.14 |
| d |
Other
Banking |
49,906.72 |
46,368.30 |
33,024.20 |
49,906.72 |
33,024.20 |
34,891.44 |
| e |
Unallocated |
4,973.77 |
4,721.00 |
7,350.64 |
4,973.77 |
7,350.64 |
6,597.28 |
| |
Total
segment assets |
2,013,343.13 |
1,976,858.23 |
1,783,222.08 |
2,013,343.13 |
1,783,222.08 |
1,871,514.58 |
| 4. |
Segment
liabilities |
|
|
|
|
|
|
| a |
Retail
Banking |
1,075,549.50 |
1,063,337.34 |
977,391.31 |
1,075,549.50 |
977,391.31 |
1,019,845.49 |
| b |
Wholesale
Banking |
503,046.84 |
494,981.27 |
419,641.39 |
503,046.84 |
419,641.39 |
456,571.53 |
| c |
Treasury |
142,951.22 |
138,508.93 |
140,077.86 |
142,951.22 |
140,077.86 |
137,386.24 |
| d |
Other
Banking |
7,052.63 |
7,390.70 |
6,174.96 |
7,052.63 |
6,174.96 |
6,212.00 |
| e |
Unallocated |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
| |
Total
segment liabilities |
1,741,700.19 |
1,717,318.24 |
1,556,385.52 |
1,741,700.19 |
1,556,385.52 |
1,633,115.26 |
| 5. |
Capital
employed |
271,642.94 |
259,539.99 |
226,836.56 |
271,642.94 |
226,836.56 |
238,399.32 |
| 6. |
Total
(4)+(5) |
2,013,343.13 |
1,976,858.23 |
1,783,222.08 |
2,013,343.13 |
1,783,222.08 |
1,871,514.58 |
Notes on standalone segmental results:
|
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| 1. |
The disclosure
on segmental reporting has been prepared in accordance with Securities and Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016
dated July 5, 2016 on Revised Formats for Financial Results and Implementation of Ind AS by Listed Entities. |
| 2. |
"Retail
Banking" includes exposures of the Bank which satisfy the four criteria of orientation, product, granularity and low value of
individual exposures for retail exposures as per RBI guidelines. This segment also includes income from credit cards, debit cards,
third party product distribution and the associated costs. |
| |
|
| |
RBI’s
Master Direction on Financial Statements – Presentation and Disclosures, requires to sub-divide ‘Retail banking’
into (a) Digital Banking (as defined in RBI circular on Establishment of Digital Banking Units dated April 7, 2022) and (b) Other
Retail Banking segment. Accordingly, the segmental results for retail banking segment is subdivided as below: |
| (₹ in crore) |
| |
Sr.
no. |
Particulars |
Segment
revenue |
Segment
results |
Segment
assets |
Segment
liabilities |
| |
Q3-2025 |
|
|
|
|
| |
|
Retail
Banking |
39,437.70 |
5,332.36 |
776,300.69 |
1,075,549.50 |
| |
(i) |
Digital
Banking |
10,193.87 |
1,209.75 |
137,597.09 |
203,487.78 |
| |
(ii) |
Other
Retail Banking |
29,243.83 |
4,122.61 |
638,703.60 |
872,061.72 |
| |
Q2-2025 |
|
|
|
|
| |
|
Retail
Banking |
38,750.86 |
5,556.19 |
778,247.73 |
1,063,337.34 |
| |
(i) |
Digital
Banking |
10,051.48 |
1,492.86 |
140,009.42 |
201,963.08 |
| |
(ii) |
Other
Retail Banking |
28,699.38 |
4,063.33 |
638,238.31 |
861,374.26 |
| |
Q3-2024 |
|
|
|
|
| |
|
Retail
Banking |
34,000.52 |
4,288.46 |
690,053.22 |
977,391.31 |
| |
(i) |
Digital
Banking |
8,308.75 |
1,031.74 |
111,841.19 |
174,210.51 |
| |
(ii) |
Other
Retail Banking |
25,691.77 |
3,256.72 |
578,212.03 |
803,180.80 |
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| 3. |
"Wholesale
Banking" includes all advances to trusts, partnership firms, companies and statutory bodies, by the Bank which are not included
under Retail Banking. |
| 4. |
"Treasury"
primarily includes the entire investment and derivative portfolio of the Bank. |
| 5. |
"Other
Banking" includes leasing operations and other items not attributable to any particular business segment of the Bank. |
| 6. |
"Unallocated"
includes items such as tax paid in advance net of provision, deferred tax and provisions to the extent reckoned at the entity level. |
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For
and on behalf of the Board of Directors |
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/s/ Sandeep Batra |
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Sandeep Batra |
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| Mumbai |
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Executive Director |
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| January 25, 2025 |
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DIN-03620913 |
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| ICICI Bank
Limited |
| CIN-L65190GJ1994PLC021012 |
| Registered
Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390
007, Gujarat, Phone:
0265-6722239 |
| Corporate
Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400 051, Maharashtra,
Phone:
022-4008 8900 |
Website:
www.icicibank.com, Email: companysecretary@icicibank.com
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| CONSOLIDATED
FINANCIAL RESULTS |
| (₹
in crore) |
| Sr.
no. |
Particulars |
Three
months ended |
Nine
months ended |
Year
ended |
December
31, 2024
(Q3-2025) |
September
30, 2024
(Q2-2025) |
December
31, 2023
(Q3-2024) |
December
31, 2024
(9M-2025) |
December
31, 2023
(9M-2024) |
March
31, 2024
(FY2024) |
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Interest
earned (a)+(b)+(c)+(d) |
47,037.12 |
46,325.78 |
40,865.23 |
137,944.55 |
116,909.20 |
159,515.92 |
| |
a) |
Interest/discount
on advances/bills |
33,799.92 |
33,140.75 |
30,030.69 |
98,696.26 |
85,619.44 |
116,589.78 |
| |
b) |
Income
on investments |
11,778.83 |
11,929.93 |
9,523.04 |
35,374.45 |
27,634.05 |
38,107.07 |
| |
c) |
Interest
on balances with Reserve Bank of India and other inter-bank funds |
822.27 |
836.46 |
680.86 |
2,376.47 |
1,962.63 |
2,649.88 |
| |
d) |
Others |
636.10 |
418.64 |
630.64 |
1,497.37 |
1,693.08 |
2,169.19 |
| 2. |
Other
income (e)+(f) |
27,589.44 |
26,616.77 |
18,614.53 |
76,894.62 |
51,946.82 |
76,521.80 |
| |
e) |
Premium
and other operating income from insurance business |
18,181.62 |
16,779.41 |
10,587.45 |
48,528.09 |
28,963.65 |
45,852.81 |
| |
f) |
Others |
9,407.82 |
9,837.36 |
8,027.08 |
28,366.53 |
22,983.17 |
30,668.99 |
| 3. |
TOTAL
INCOME (1)+(2) |
74,626.56 |
72,942.55 |
59,479.76 |
214,839.17 |
168,856.02 |
236,037.72 |
| 4. |
Interest
expended |
22,633.41 |
22,225.30 |
19,408.76 |
65,980.33 |
53,684.43 |
74,108.16 |
| 5. |
Operating
expenses (g)+(h)+(i) |
32,242.27 |
30,838.91 |
23,908.69 |
91,152.34 |
67,876.37 |
97,782.79 |
| |
g) |
Employee
cost |
5,673.89 |
5,993.19 |
4,749.19 |
17,832.93 |
14,222.75 |
19,171.98 |
| |
h) |
Claims
and benefits paid and other expenses pertaining to insurance business |
18,884.48 |
17,341.60 |
11,931.49 |
50,872.75 |
32,326.33 |
50,260.12 |
| |
i) |
Other
operating expenses |
7,683.90 |
7,504.12 |
7,228.01 |
22,446.66 |
21,327.29 |
28,350.69 |
| 6. |
TOTAL
EXPENDITURE EXCLUDING PROVISIONS AND CONTINGENCIES (4)+(5) |
54,875.68 |
53,064.21 |
43,317.45 |
157,132.67 |
121,560.80 |
171,890.95 |
| |
| 7. |
OPERATING
PROFIT BEFORE PROVISIONS AND CONTINGENCIES (3)–(6) |
19,750.88 |
19,878.34 |
16,162.31 |
57,706.50 |
47,295.22 |
64,146.77 |
| |
| 8. |
Provisions
(other than tax) and contingencies |
1,267.86 |
1,381.88 |
1,020.45 |
3,965.63 |
3,014.50 |
3,712.41 |
| 9. |
PROFIT
FROM ORDINARY ACTIVITIES BEFORE EXCEPTIONAL ITEMS AND TAX (7)–(8) |
18,483.02 |
18,496.46 |
15,141.86 |
53,740.87 |
44,280.72 |
60,434.36 |
| 10. |
Exceptional
items |
.. |
.. |
.. |
.. |
.. |
.. |
| 11. |
Add:
Share of profit in associates |
18.28 |
45.19 |
259.96 |
120.34 |
846.45 |
1,073.77 |
| 12. |
PROFIT
FROM ORDINARY ACTIVITIES BEFORE TAX AND MINORITY INTEREST (9)–(10)+(11) |
18,501.30 |
18,541.65 |
15,401.82 |
53,861.21 |
45,127.17 |
61,508.13 |
| 13. |
Tax
expense (j)+(k) |
4,654.41 |
4,635.66 |
3,886.67 |
13,645.52 |
11,246.71 |
15,427.62 |
| |
j) |
Current
tax |
4,797.23 |
4,214.41 |
3,810.46 |
13,106.38 |
10,956.53 |
13,693.30 |
| |
k) |
Deferred
tax |
(142.82) |
421.25 |
76.21 |
539.14 |
290.18 |
1,734.32 |
| 14. |
Less:
Share of profit/(loss) of minority shareholders |
963.52 |
958.22 |
462.55 |
2,688.71 |
1,295.61 |
1,824.14 |
| 15. |
NET
PROFIT FROM ORDINARY ACTIVITIES AFTER TAX (12)–(13)–(14) |
12,883.37 |
12,947.77 |
11,052.60 |
37,526.98 |
32,584.85 |
44,256.37 |
| 16. |
Extraordinary
items (net of tax expense) |
.. |
.. |
.. |
.. |
.. |
.. |
| 17. |
NET
PROFIT FOR THE PERIOD (15)-(16) |
12,883.37 |
12,947.77 |
11,052.60 |
37,526.98 |
32,584.85 |
44,256.37 |
| 18. |
Paid-up
equity share capital (face value Rs. 2/- each) |
1,412.11 |
1,409.45 |
1,403.18 |
1,412.11 |
1,403.18 |
1,404.68 |
| 19. |
Reserves
excluding revaluation reserves |
|
|
|
|
|
250,222.56 |
| 20. |
Earnings
per share (EPS) |
|
|
|
- |
|
|
| |
Basic
EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) |
18.26 |
18.39 |
15.77 |
53.29 |
46.55 |
63.19 |
| |
Diluted
EPS before and after extraordinary items, net of tax expense (not annualised) (in Rs.) |
17.95 |
18.05 |
15.47 |
52.31 |
45.65 |
61.96 |
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| SUMMARISED
CONSOLIDATED BALANCE SHEET |
| (₹
in crore) |
| Particulars |
At |
December
31, 2024 |
September
30, 2024 |
March
31, 2024 |
December
31, 2023 |
| (Unaudited) |
(Unaudited) |
(Audited) |
(Unaudited) |
| Capital
and Liabilities |
|
|
|
|
| Capital |
1,412.11 |
1,409.45 |
1,404.68 |
1,403.18 |
| Employees
stock options/units outstanding |
1,801.66 |
1,650.74 |
1,405.32 |
1,242.55 |
| Reserves
and surplus |
289,472.72 |
277,026.44 |
253,333.84 |
241,184.80 |
| Minority
interest |
15,642.90 |
15,586.37 |
13,888.42 |
7,431.64 |
| Deposits |
1,551,165.62 |
1,529,513.61 |
1,443,579.95 |
1,366,842.09 |
| Borrowings
(includes subordinated debt) |
217,007.20 |
219,760.55 |
207,428.00 |
200,966.94 |
| Policyholders'
funds |
294,558.26 |
306,679.41 |
281,318.33 |
273,564.40 |
| Other
liabilities and provisions |
160,427.09 |
164,884.99 |
161,704.49 |
115,382.83 |
| Total
Capital and Liabilities |
2,531,487.56 |
2,516,511.56 |
2,364,063.03 |
2,208,018.43 |
| |
|
|
|
|
| Assets |
|
|
|
|
| Cash
and balances with Reserve Bank of India |
75,931.64 |
89,198.99 |
89,943.02 |
64,935.13 |
| Balances
with banks and money at call and short notice |
96,580.68 |
75,185.64 |
72,825.88 |
56,514.16 |
| Investments |
849,417.41 |
874,760.49 |
827,162.51 |
754,864.94 |
| Advances |
1,397,265.27 |
1,360,046.48 |
1,260,776.20 |
1,229,198.02 |
| Fixed
assets |
14,692.82 |
14,254.27 |
13,240.28 |
11,913.77 |
| Other
assets |
94,689.56 |
100,155.51 |
97,640.98 |
90,491.08 |
| Goodwill
on consolidation |
2,910.18 |
2,910.18 |
2,474.16 |
101.33 |
| Total
Assets |
2,531,487.56 |
2,516,511.56 |
2,364,063.03 |
2,208,018.43 |
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Notes on consolidated financial results:
|
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|
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| 1. |
The above consolidated
financial results have been approved by the Board of Directors at its meeting held on January 25, 2025. |
| 2. |
The consolidated
financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard
25 “Interim Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, the
relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India
(“the RBI”) from time to time, the Insurance Regulatory and Development Authority of India (‘the IRDAI’)
(Preparation of Financial Statements and Auditors Report of Insurance companies) Regulations, 2002 (‘IRDAI Guidelines’)
applicable for insurance entities and other accounting principles generally accepted in India and, in case of overseas jurisdictions,
generally accepted accounting principles as applicable, and are in compliance with the presentation and disclosure requirements of
the Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by SEBI
from time to time. |
| 3. |
There are no
changes in the significant accounting policies applied during 9M-2025 as compared to those applied in FY2024 except for classification
and measurement of investments. With effect from April 1, 2024, the Bank has implemented Master Direction issued by the RBI on Classification,
Valuation and Operation of investment Portfolio of Commercial Banks (Directions), 2023 (‘RBI Directions’) which has introduced
significant changes in the basis of classification and accounting of investments and recognition of fair valuation of gains and losses.
For the purpose of consolidation, the domestic group entities (except insurance subsidiaries), have aligned with the Bank’s
accounting policies including the aforesaid RBI Directions. Accordingly, the Group has accounted net transition gain of Rs. 2,058.31
crore (net of tax and minority interest) and ₹ 1,408.29 crore (net of tax and minority interest) in AFS Reserve and General Reserve
respectively in accordance with the RBI Directions. Subsequent changes in fair value of performing investments under AFS and Fair
Value Through Proft and Loss (‘FVTPL’) (including Held For Trading (‘HFT’)) categories at December 31, 2024
have been recognised through AFS Reserve and Profit and Loss account respectively. Accordingly, the amounts for previous
periods are not comparable. |
| 4. |
During Q3-2025,
the Bank has allotted 13,288,873 equity shares of ₹ 2 each pursuant to exercise of employee stock options/units. |
| 5. |
At December 31,
2024, the Bank has 18 subsidiaries (including three step-down subsidiaries) and six associates. |
| 6. |
ICICI Lombard
General Insurance Company Limited ceased to be an associate and became a subsidiary of the Bank effective from February 29, 2024.
I-Process Services (India) Private Limited ceased to be an associate and became a subsidiary of the Bank effective from March 20,
2024. Subsequently, I-Process Services (India) Private Limited became a wholly-owned subsidiary of the Bank effective from March
22, 2024. Accordingly, the consolidated financial results for Q2-2025, Q3-2025 and 9M-2025, are not comparable with the previous
periods/year. |
| 7. |
In accordance
with RBI guidelines, consolidated Pillar 3 disclosure (unaudited), leverage ratio, liquidity coverage ratio, net stable funding ratio
is available at https://www.icicibank.com/regulatory-disclosure.page. |
| 8. |
Previous period/year
figures have been re-grouped/re-classified where necessary to conform to current period classification. |
| 9. |
The joint statutory
auditors, B S R & Co. LLP, Chartered Accountants and C N K & Associates LLP, Chartered Accountants, have conducted limited
review and issued an unmodified report on the consolidated financial results for Q2-2025, Q3-2025 and 9M-2025. The consolidated financial
results for Q3-2024, 9M-2024 and FY2024 were reviewed/audited by the joint statutory auditors, M S K A & Associates, Chartered
Accountants and KKC & Associates LLP, Chartered Accountants, on which they had issued unmodified conclusion/opinion. |
| 10. |
Rs. 1.00 crore
= ₹ 10.0 million. |
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| CONSOLIDATED
SEGMENTAL RESULTS |
| (₹
in crore) |
| Sr.
no. |
Particulars |
Three
months ended |
Nine
months ended |
Year
ended |
December
31, 2024
(Q3-2025) |
September
30, 2024
(Q2-2025) |
December
31, 2023
(Q3-2024) |
December
31, 2024
(9M-2025) |
December
31, 2023
(9M-2024) |
March
31, 2024
(FY2024) |
| (Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Audited) |
| 1. |
Segment
revenue |
|
|
|
|
|
|
| a |
Retail
Banking |
39,437.70 |
38,750.86 |
34,000.52 |
115,567.02 |
98,137.75 |
134,547.57 |
| b |
Wholesale
Banking |
21,119.32 |
20,388.83 |
19,454.81 |
60,900.30 |
52,907.71 |
71,780.22 |
| c |
Treasury |
34,051.79 |
33,563.89 |
29,356.10 |
100,267.22 |
83,380.45 |
113,701.83 |
| d |
Other
Banking |
2,171.80 |
2,075.55 |
1,747.71 |
5,744.77 |
4,811.91 |
6,403.40 |
| e |
Life
Insurance |
15,550.99 |
13,888.43 |
13,150.14 |
40,775.10 |
36,500.97 |
54,236.13 |
| f |
General
Insurance |
6,462.35 |
6,546.95 |
.. |
19,184.87 |
.. |
1,895.81 |
| g |
Others |
4,559.87 |
5,184.30 |
3,607.65 |
14,180.56 |
10,024.60 |
14,036.87 |
| |
Total
segment revenue |
123,353.82 |
120,398.81 |
101,316.93 |
356,619.84 |
285,763.39 |
396,601.83 |
| |
Less:
Inter segment revenue |
48,727.26 |
47,456.26 |
41,837.17 |
141,780.67 |
116,907.37 |
160,564.11 |
| |
Income
from operations |
74,626.56 |
72,942.55 |
59,479.76 |
214,839.17 |
168,856.02 |
236,037.72 |
| 2. |
Segmental
results (i.e. Profit before tax and minority interest) |
|
| a |
Retail
Banking |
5,332.36 |
5,556.19 |
4,288.46 |
15,127.62 |
13,363.06 |
18,849.17 |
| b |
Wholesale
Banking |
5,903.24 |
5,197.53 |
5,746.05 |
16,012.84 |
14,495.75 |
19,971.71 |
| c |
Treasury |
4,222.35 |
4,587.70 |
3,209.97 |
14,287.78 |
11,399.12 |
14,640.88 |
| d |
Other
Banking |
421.68 |
306.75 |
521.95 |
1,042.56 |
1,277.26 |
1,638.40 |
| e |
Life
Insurance |
375.72 |
286.36 |
232.10 |
922.31 |
688.89 |
923.23 |
| f |
General
Insurance |
960.09 |
919.03 |
.. |
2,653.11 |
.. |
220.47 |
| g |
Others |
1,791.61 |
2,164.03 |
1,674.77 |
5,638.75 |
4,386.80 |
6,009.70 |
| |
Total
segment results |
19,007.05 |
19,017.59 |
15,673.30 |
55,684.97 |
45,610.88 |
62,253.56 |
| |
Less:
Inter segment adjustment |
524.03 |
521.13 |
531.44 |
1,944.10 |
1,330.16 |
1,819.20 |
| |
Add:
Share of profit in associates |
18.28 |
45.19 |
259.96 |
120.34 |
846.45 |
1,073.77 |
| |
Profit
before tax and minority interest |
18,501.30 |
18,541.65 |
15,401.82 |
53,861.21 |
45,127.17 |
61,508.13 |
| 3. |
Segment
assets |
|
| a |
Retail
Banking |
776,300.69 |
778,247.73 |
690,053.22 |
776,300.69 |
690,053.22 |
719,313.62 |
| b |
Wholesale
Banking |
539,703.97 |
502,717.35 |
476,924.80 |
539,703.97 |
476,924.80 |
482,456.10 |
| c |
Treasury |
643,464.46 |
645,790.96 |
581,439.71 |
643,464.46 |
581,439.71 |
634,054.80 |
| d |
Other
Banking |
101,630.96 |
99,697.42 |
90,976.81 |
101,630.96 |
90,976.81 |
89,305.62 |
| e |
Life
Insurance |
313,562.01 |
326,637.20 |
290,291.18 |
313,562.01 |
290,291.18 |
298,795.29 |
| f |
General
Insurance |
67,543.65 |
67,534.00 |
.. |
67,543.65 |
.. |
62,831.70 |
| g |
Others |
96,324.74 |
103,293.30 |
81,565.42 |
96,324.74 |
81,565.42 |
87,996.61 |
| h |
Unallocated |
5,850.67 |
5,373.78 |
7,891.62 |
5,850.67 |
7,891.62 |
7,571.17 |
| |
Total |
2,544,381.15 |
2,529,291.74 |
2,219,142.76 |
2,544,381.15 |
2,219,142.76 |
2,382,324.91 |
| |
Less:
Inter segment adjustment |
12,893.59 |
12,780.18 |
11,124.33 |
12,893.59 |
11,124.33 |
18,261.88 |
| |
Total
segment assets |
2,531,487.56 |
2,516,511.56 |
2,208,018.43 |
2,531,487.56 |
2,208,018.43 |
2,364,063.03 |
| 4. |
Segment
liabilities |
|
| a |
Retail
Banking |
1,075,549.50 |
1,063,337.34 |
977,391.31 |
1,075,549.50 |
977,391.31 |
1,019,845.49 |
| b |
Wholesale
Banking |
503,046.84 |
494,981.27 |
419,641.39 |
503,046.84 |
419,641.39 |
456,571.53 |
| c |
Treasury |
169,403.66 |
164,916.99 |
155,996.16 |
169,403.66 |
155,996.16 |
166,411.24 |
| d |
Other
Banking |
52,902.37 |
54,914.98 |
58,540.17 |
52,902.37 |
58,540.17 |
55,134.33 |
| e |
Life
Insurance |
302,174.49 |
315,258.92 |
279,465.00 |
302,174.49 |
279,465.00 |
287,991.47 |
| f |
General
Insurance |
53,531.30 |
53,159.31 |
.. |
53,531.30 |
.. |
50,358.96 |
| g |
Others |
81,986.50 |
89,536.30 |
71,178.20 |
81,986.50 |
71,178.20 |
76,768.05 |
| h |
Unallocated |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
13,100.00 |
| |
Total |
2,251,694.66 |
2,249,205.11 |
1,975,312.23 |
2,251,694.66 |
1,975,312.23 |
2,126,181.07 |
| |
Less:
Inter segment adjustment |
12,893.59 |
12,780.18 |
11,124.33 |
12,893.59 |
11,124.33 |
18,261.88 |
| |
Total
segment liabilities |
2,238,801.07 |
2,236,424.93 |
1,964,187.90 |
2,238,801.07 |
1,964,187.90 |
2,107,919.19 |
| 5. |
Capital
employed |
292,686.49 |
280,086.63 |
243,830.53 |
292,686.49 |
243,830.53 |
256,143.84 |
| 6. |
Total
(4)+(5) |
2,531,487.56 |
2,516,511.56 |
2,208,018.43 |
2,531,487.56 |
2,208,018.43 |
2,364,063.03 |
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| Notes on consolidated segmental results: |
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| 1. |
The disclosure
on segmental reporting has been prepared in accordance with Securities and Exchange Board of India (SEBI) circular no. CIR/CFD/FAC/62/2016
dated July 5, 2016 on Revised Formats for Financial Results and Implementation of Ind AS by Listed Entities. |
| 2. |
'Retail Banking'
includes exposures of the Bank which satisfy the four criteria of orientation, product, granularity and low value of individual exposures
for retail exposures as per RBI guidelines. This segment also includes income from credit cards, debit cards, third party product
distribution and the associated costs. |
| 3. |
'Wholesale
Banking' includes all advances to trusts, partnership firms, companies and statutory bodies, by the Bank which are not included under
Retail Banking. |
| 4. |
'Treasury'
primarily includes the entire investment and derivative portfolio of the Bank. |
| 5. |
'Other Banking'
includes leasing operations and other items not attributable to any particular business segment of the Bank. Further, it includes
the Bank’s banking subsidiaries i.e. ICICI Bank UK PLC and ICICI Bank Canada. |
| 6. |
'Life Insurance'
represents ICICI Prudential Life Insurance Company Limited. |
| 7. |
'General Insurance'
represents ICICI Lombard General Insurance Company Limited. |
| 8. |
'Others' comprises
the consolidated entities of the Bank, not covered in any of the segments above. |
| 9. |
'Unallocated'
includes items such as tax paid in advance net of provision, deferred tax and provisions to the extent reckoned at the entity level. |
| 10. |
ICICI Lombard
General Insurance Company Limited ceased to be an associate and became a subsidiary of the Bank effective from February 29, 2024.
I-Process Services (India) Private Limited ceased to be an associate and became a subsidiary of the Bank effective from March 20,
2024. Subsequently, I-Process Services (India) Private Limited became a wholly-owned subsidiary of the Bank effective from March
22, 2024. Accordingly, the consolidated segmental results for Q2-2025, Q3-2025 and 9M-2025, are not comparable with the previous
periods/year. |
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For
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/s/ Sandeep Batra |
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Sandeep Batra |
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Executive Director |
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| January 25, 2025 |
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DIN-03620913 |
|
Item 3.
| B S R & Co. LLP |
C N K & Associates LLP |
| Chartered Accountants |
Chartered Accountants |
| |
|
| 14th Floor, Central B Wing and North C Wing |
3rd Floor, Mistry Bhavan, |
| Nesco IT Park 4, Nesco Center |
Dinshaw Vachha Road, |
| Western Express Highway, Goregaon (East) |
Churchgate |
| Mumbai – 400 063, India |
Mumbai- 400 020, India |
Independent Auditors’ limited review
report on unaudited standalone financial results for the quarter ended 31 December 2024 and year to date results for the period from 1
April 2024 to 31 December 2024 of the ICICI Bank Limited pursuant to Regulation 33 and Regulation 52(4) read with Regulation 63 of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To the Board of Directors of
ICICI Bank Limited
| 1. | We have reviewed the accompanying Statement of unaudited standalone financial results of ICICI Bank Limited
(hereinafter referred to as ‘the Bank’) for the quarter ended 31 December 2024 and year to date results for the period from
1 April 2024 to 31 December 2024 (‘the Statement’), being submitted by the Bank pursuant to the requirements of Regulation
33 and Regulation 52(4) read with Regulation 63 of the Securities and Exchange Board of India (‘the SEBI’) (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended (‘the Listing Regulations’). |
| 2. | This Statement, which is the responsibility of the Bank’s management and approved by its Board of
Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 “Interim
Financial Reporting” (‘AS 25’), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued
thereunder, in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and
directions issued by the RBI from time to time (‘the RBI Guidelines’) and other accounting principles generally accepted in
India, and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations. Our responsibility
is to issue a report on the Statement based on our review. |
| 3. | We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered
Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial
and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted
in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion. |
Page 1 of 2
| 4. | Based on our review conducted as above, nothing has come to our attention that causes us to believe that
the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid accounting
standard and other accounting principles generally accepted in India and the RBI guidelines, has not disclosed the information
required to be disclosed in terms of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, including
the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance
with the relevant prudential norms issued by the RBI in respect of income recognition, asset classification, provisioning and other related
matters. |
| 5. | The standalone financial results of the Bank for the year ended 31 March 2024 were audited jointly by
the predecessor auditors whose report dated 27 April 2024 had expressed an unmodified opinion. The standalone financial results of the
Bank for corresponding quarter ended 31 December 2023 and corresponding period from 1 April 2023 to 31 December 2023 were reviewed jointly
by the predecessor auditors whose report dated 20 January 2024 had expressed an unmodified conclusion. |
Our review report is not modified in respect
of the above matters.
|
For B S R & Co. LLP
Chartered Accountants
Firm Registration no.: 101248W/W-100022
|
For C N K & Associates LLP
Chartered Accountants
Firm Registration no.: 101961W/W100036
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/s/ Ashwin Suvarna
Ashwin Suvarna
Partner
Membership No.: 109503
|
/s/ Manish Sampat
Manish Sampat
Partner
Membership No.: 101684
|
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|
UDIN: 25109503BMOQAF3445
|
UDIN: 25101684BMMLKR7991
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| Place: Mumbai |
Place: Mumbai |
|
| Date: 25 January 2025 |
Date: 25 January 2025 |
|
Page 2 of 2
Item 4.
| B S R & Co. LLP |
C N K & Associates LLP |
| Chartered Accountants |
Chartered Accountants |
| 14th Floor, Central B Wing and North C Wing |
3rd Floor, Mistry Bhavan, |
| Nesco IT Park 4, Nesco Center |
Dinshaw Vachha Road, |
| Western Express Highway, Goregaon (East) |
Churchgate |
| Mumbai – 400 063, India |
Mumbai- 400 020, India |
Limited review report on unaudited quarterly
consolidated financial results and consolidated year-to-date results for quarter ended 31 December 2024 and year to date results for the
period from 1 April 2024 to 31 December 2024 of ICICI Bank Limited pursuant to Regulation 33 and Regulation 52(4) read with Regulation
63 of the of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To the Board of Directors of
ICICI Bank Limited
| 1. | We have reviewed the accompanying Statement of unaudited consolidated financial results of ICICI Bank
Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and
its subsidiaries together referred to as “the Group”), and its share of the net profit after tax of its associates for the
quarter ended 31 December 2024 and year to date results for the period from 1 April 2024 to 31 December 2024 (“the Statement”),
being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) read with Regulation 63 of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”),
except for the disclosures prescribed by the Reserve Bank of India (the 'RBI') relating to consolidated Pillar 3 disclosures as at 31
December 2024, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel III Capital Regulations as
have been disclosed on the Bank's website and in respect of which a link has been provided in Note 7 to the Statement and have not been
reviewed by us. |
| 2. | This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s
Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25
“Interim Financial Reporting” (“AS 25”), prescribed under Section 133 of the Companies Act, 2013, read
with relevant rules issued thereunder, in so far as they apply to banks, the relevant provisions of the Banking Regulation Act, 1949,
the circulars, the guidelines and directions issued by the Reserve Bank of India (RBI) (“RBI Guidelines”) and guidelines issued
by Insurance Regulatory and Development Authority of India (“IRDAI guidelines”) as applicable, and other accounting principles
generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations.
Our responsibility is to express a conclusion on the Statement based on our review. |
| 3. | We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered
Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial
and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted
in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion. |
We also performed procedures in accordance
with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent
applicable.
| 4. | The Statement includes the results of the entities mentioned in Annexure 1. |
| B S R & Co. LLP |
C N K & Associates LLP |
| Chartered Accountants |
Chartered Accountants |
| 5. | Based on our review conducted and procedures performed as stated in paragraph
3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come
to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement
principles laid down in the aforesaid Accounting Standard, RBI Guidelines, IRDAI guidelines, as applicable and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4)
read with Regulation 63 of the Listing Regulations, including the manner in which it is to be disclosed, except for the disclosures relating
to consolidated Pillar 3 disclosure as at 31 December 2024, including leverage ratio, liquidity coverage ratio and net stable funding
ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided
in Note 7 to the Statement and have not been reviewed by us. |
| 6. | We did not review the interim financial information of 6 subsidiaries included in the Statement, whose
interim financial information reflect total assets (before consolidation adjustments) of Rs. 445,577.08 crores as at 31 December 2024
and total revenues (before consolidation adjustments) of Rs. 24,936.31 crores and Rs. 69,082.67 crores, total net profit after tax (before
consolidation adjustments) of Rs. 1,899.31 crores and Rs. 5,589.45 crores, for the quarter ended 31 December 2024 and for the period from
1 April 2024 to 31 December 2024 respectively, as considered in the Statement. These interim financial information have been reviewed
by other auditors whose reports have been furnished to us by the Parent’s management and our conclusion on the Statement, in so
far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other
auditors and the procedures performed by us as stated in paragraph 3 above. |
Further, 3 subsidiaries whose interim
financial information reflects total assets of Rs. 32,262.16 crores (before consolidation adjustments) as at 31 December 2024 and total
revenues of Rs. 1,593.94 crores and Rs. 4,934.12 crores (before consolidation adjustments) and total net profit after tax of Rs. 497.29
crores and Rs. 1,411.25 crores (before consolidation adjustments) for the quarter ended 31 December 2024 and for the period from 1 April
2024 to 31 December 2024 respectively, as considered in the Statement has been reviewed by only one of the joint auditors of the Bank
and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is
based solely on the review report issued by the said auditors of the subsidiary company and the procedures performed as stated in paragraph
3 above.
Our conclusion is not modified in respect
of this matter.
| 7. | The Statement includes the financial information of 9 subsidiaries which have not been reviewed, whose
interim financial information reflect total assets (before consolidation adjustments) of Rs. 52,202.80 crores as at 31 December 2024 and
total revenue (before consolidation adjustments) of Rs. 820.61 crores and Rs. 2,532.05 crores and total net profit after tax (before consolidation
adjustments) of Rs. 165.87 crores and Rs. 542.02 crores for the quarter ended 31 December 2024 and for the period from1 April 2024 to
31 December 2024, respectively, as considered in the Statement. The Statement also includes the Group’s share of net profit after
tax of Rs. 18.28 crores and Rs. 120.34 crores for the quarter ended 31 December 2024 and for the period from 1 April 2024 to 31 December
2024, respectively in respect of 6 associates, based on their financial information which have not been reviewed. According to the information
and explanations given to us by the Parent’s management, these interim financial information are not material to the Group. |
Our conclusion is not modified in respect
of this matter.
| B S R & Co. LLP |
C N K & Associates LLP |
| Chartered Accountants |
Chartered Accountants |
| 8. | The joint statutory auditors of ICICI Prudential Life Insurance Company Limited ('ICICI Life'), vide their
review report dated 22 January 2025 have expressed an unmodified opinion and have reported in the 'Other Matter' section that ‘The
actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability
exists as at 31 December 2024 is the responsibility of the Company's Appointed Actuary (the ‘Appointed Actuary’). The actuarial
valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability
exists as at 31 December 2024 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation
are in accordance with the guidelines and norms issued by the Insurance Regulatory and Development Authority of India ('IRDAI') and the
Institute of Actuaries of India in concurrence with the Authority. The joint auditors have relied upon the Appointed Actuary's certificate
in this regard for forming their opinion on the valuation of liabilities for life policies in force and for policies in respect of which
premium has been discontinued but liability exists, as contained in the group reporting pack of the Company’. |
Our conclusion is not modified in respect
of this matter.
| 9. | The joint statutory auditors of ICICI Lombard General Insurance Company Limited ('ICICI General'), vide
their review report dated 17 January 2025, have expressed an unmodified opinion and have reported in the 'Other Matter' section that,
'The actuarial valuation of liabilities in respect of Incurred But Not Reported ('IBNR'), Incurred But Not Enough Reported ('IBNER') and
Premium Deficiency Reserve ('PDR') is the responsibility of the Company's Appointed Actuary (the 'Appointed Actuary'). The actuarial valuation
of these liabilities, that are estimated using statistical methods as at 31 December 2024 has been duly certified by the Appointed Actuary
and in his opinion, the assumptions considered by him for such valuation are in accordance with the guidelines and norms issued by the
IRDAI and the Institute of Actuaries of India in concurrence with IRDAI. The joint statutory auditors have relied upon the Appointed Actuary's
certificate in this regard for forming their opinion on the valuation of liabilities for outstanding claims reserves and PDR contained
in the group reporting pack of the Company.’ |
Our conclusion is not modified in respect
of this matter.
| 10. | The consolidated financial results of the Group and its associates for the year ended 31 March 2024 were
audited jointly by the predecessor auditors whose report dated 27 April 2024 had expressed an unmodified opinion. The Consolidated financial
results of the group and its associates for the corresponding quarter ended 31 December 2023 and corresponding period from 1 April 2023
to 31 December 2023 were reviewed jointly by the predecessor auditors whose report dated 20 January 2024 had expressed an unmodified conclusion. |
Our conclusion on the Statement is
not modified in respect of this matters.
|
For B S R & Co. LLP
Chartered Accountants
Firm Registration no.: 101248W/W-100022
|
For C N K & Associates LLP
Chartered Accountants
Firm Registration no.: 101961W/W100036
|
|
| |
|
|
|
|
|
|
/s/ Ashwin Suvarna
Ashwin Suvarna
Partner
Membership No.: 109503
UDIN: 25109503BMOQAG8131
|
/s/ Manish Sampat
Manish Sampat
Partner
Membership No.: 101684
UDIN: 25101684BMMLKS1128
|
|
| |
|
|
| Place: Mumbai |
Place: Mumbai |
|
| Date: 25 January 2025 |
Date: 25 January 2025 |
|
| B S R & Co. LLP |
C N K & Associates LLP |
| Chartered Accountants |
Chartered Accountants |
Annexure 1
List of entities included in the statement.
Parent Entity
Subsidiaries
| 4. | ICICI Securities Limited |
| 5. | ICICI Securities Holdings Inc. |
| 7. | ICICI Securities Primary Dealership Limited |
| 8. | ICICI Venture Funds Management Company Limited |
| 9. | ICICI Home Finance Company Limited |
| 10. | ICICI Trusteeship Services Limited |
| 11. | ICICI Investment Management Company Limited |
| 12. | ICICI International Limited |
| 13. | ICICI Prudential Pension Funds Management Company Limited |
| 14. | ICICI Prudential Life Insurance Company Limited |
| 15. | ICICI Lombard General Insurance Company Limited |
| 16. | ICICI Prudential Asset Management Company Limited |
| 17. | ICICI Prudential Trust Limited |
| 18. | I-Process Services (India) Private Limited |
| 19. | ICICI Strategic Investments Fund |
Associates
| 20. | NIIT Institute of Finance Banking and Insurance Training Limited |
| 21. | ICICI Merchant Services Private Limited |
| 22. | India Infradebt Limited |
| 23. | India Advantage Fund-III |
| 24. | India Advantage Fund-IV |
| 25. | Arteria Technologies Private Limited |
 | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
| News
Release |
January
25, 2025 |
Performance
Review: Quarter ended December 31, 2024
| · | Profit
before tax excluding treasury grew by 12.8% year-on-year to ₹ 15,289 crore (US$ 1.8
billion) in the quarter ended December 31, 2024 (Q3-2025) |
| · | Core
operating profit grew by 13.1% year-on-year to ₹ 16,516 crore (US$ 1.9 billion) in
Q3-2025 |
| · | Excluding
dividend income from subsidiaries, core operating profit grew by 14.7% year-on-year in Q3-2025 |
| · | Profit
after tax grew by 14.8% year-on-year to ₹ 11,792 crore (US$ 1.4 billion) in Q3-2025 |
| · | Total
period-end deposits grew by 14.1% year-on-year to ₹ 15,20,309 crore (US $ 177.6 billion)
at December 31, 2024 |
| · | Average
deposits grew by 13.7% year-on-year to ₹ 14,58,489 crore (US$ 170.3 billion) at December
31, 2024 |
| · | Average
current account and savings account (CASA) ratio was 39.0% in Q3-2025 |
| · | Domestic
loan portfolio grew by 15.1% year-on-year to ₹ 12,82,778 crore (US$ 149.8 billion)
at December 31, 2024 |
| · | Net
NPA ratio was 0.42% at December 31, 2024 compared to 0.42% at September 30, 2024 |
| · | Provisioning
coverage ratio on non-performing loans was 78.2% at December 31, 2024 |
| · | Including
profits for the nine months ended December 31, 2024 (9M-2025), total capital adequacy ratio
was 16.60% and CET-1 ratio was 15.93% on a standalone basis at December 31, 2024 |
The
Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held at Mumbai today, approved the standalone
and consolidated accounts of the Bank for the quarter ended December 31, 2024 (Q3- 2025). The statutory auditors have conducted a limited
review and have issued an unmodified report on the standalone and consolidated financial statements for the quarter ended December 31,
2024.
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
Profit
& loss account
| · | Profit
before tax excluding treasury grew by 12.8% year-on-year to ₹ 15,289 crore (US$ 1.8
billion) in Q3-2025 from ₹ 13,551 crore (US$ 1.6 billion) in the quarter ended December
31, 2023 (Q3-2024) |
| · | Core
operating profit grew by 13.1% year-on-year to ₹ 16,516 crore (US$ 1.9 billion) in
Q3-2025 from ₹ 14,601 crore (US$ 1.7 billion) in Q3-2024 |
| · | Excluding
dividend income from subsidiaries, core operating profit grew by 14.7% year-on-year in Q3-2025 |
| · | Net
interest income (NII) increased by 9.1% year-on-year to ₹ 20,371 crore (US$ 2.4 billion)
in Q3-2025 from ₹ 18,678 crore (US$ 2.2 billion) in Q3-2024 |
| · | The
net interest margin was 4.25% in Q3-2025 compared to 4.27% in Q2-2025 and 4.43% in Q3-2024 |
| · | Non-interest
income, excluding treasury, increased by 12.1% year-on-year to ₹ 6,697 crore (US$ 782
million) in Q3-2025 from ₹ 5,975 crore (US$ 698 million) in Q3-2024 |
| · | Fee
income grew by 16.3% year-on-year to ₹ 6,180 crore (US$ 722 million) in Q3-2025 from
₹ 5,313 crore (US$ 621 million) in Q3-2024. Fees from retail, rural and business banking
customers constituted about 78% of total fees in Q3-2025 |
| · | Treasury
gains were ₹ 371 crore (US$ 43 million) in Q3-2025 as compared to 123 crore (US$14
million) in Q3-2024 |
| · | Provisions
(excluding provision for tax) were ₹ 1,227 crore (US$ 143 million) in Q3-2025 compared
to ₹ 1,050 crore (US$ 123 million) in Q3-2024 and ₹ 1,233 crore (US$ 144 million)
in Q2-2025 |
| · | Profit
before tax grew by 14.5% year-on-year to ₹ 15,660 crore (US$ 1.8 billion) in Q3-2025
from ₹ 13,674 crore (US$ 1.6 billion) in Q3-2024 |
| · | Profit
after tax grew by 14.8% year-on-year to ₹ 11,792 crore (US$ 1.4 billion) in Q3-2025
from ₹ 10,272 crore (US$ 1.2 billion) in Q3-2024 |
Credit
growth
The net
domestic advances grew by 15.1% year-on-year and 3.2% sequentially at December 31, 2024. The retail loan portfolio grew by 10.5% year-on-year
and 1.4% sequentially, and comprised 52.4% of the total loan portfolio at December 31, 2024. Including non-fund outstanding, the retail
portfolio was 43.9% of the total portfolio at December 31, 2024. The business banking portfolio grew by 31.9% year-on-year and 6.4% sequentially
at December 31, 2024. The rural portfolio grew by 12.2% year-on-year and 0.9% sequentially at December 31, 2024. The domestic corporate
portfolio grew by 13.2% year-on-year and 4.3% sequentially at December 31, 2024. Total advances increased by 13.9% year-on-year and 2.9%
sequentially to ₹ 13,14,366 crore (US$ 153.5 billion) at December 31, 2024.
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
The Bank
continued to enhance the use of technology in its operations to provide simplified solutions to customers. The Bank has introduced DigiEase,
a digital platform designed to streamline the customer onboarding process for business banking. This enhances operational efficiency
and customer experience by integrating multiple digital services into a single seamless workflow. iLens, the retail lending platform,
is being upgraded on an ongoing basis, with retail credit cards now integrated in the platform along with mortgages, personal loans and
education loans.
The Bank
will continue to make investments in the computing infrastructure and upgrade digital channels to further strengthen system resilience
and simplify processes for enhancing customer experience.
Deposit
growth
Total
period-end deposits increased by 14.1% year-on-year and 1.5% sequentially to ₹ 15,20,309 crore (US$ 177.6 billion) at December
31, 2024. Average deposits increased by 13.7% year-on-year and 2.1% sequentially to ₹ 14,58,489 crore (US$ 170.3 billion) in Q3-2025.
Average current account deposits increased by 13.1% year-on-year and 4.5% sequentially in Q3-2025. Average savings account deposits increased
by 12.3% year-on-year and 1.3% sequentially in Q3-2025.
With the
addition of 129 branches during Q3-2025, the Bank had a network of 6,742 branches and 16,277 ATMs & cash recycling machines at December
31, 2024.
Asset
quality
The gross
NPA ratio was 1.96% at December 31, 2024 compared to 1.97% at September 30, 2024. The net NPA ratio was 0.42% at December 31, 2024 compared
to 0.42% at September 30, 2024. The gross NPA additions were ₹ 6,085 crore (US$ 711 million) in Q3-2025 compared to ₹ 5,916
(US$ 691 million) in Q1-2025 and ₹ 5,073 crore (US$ 593 million) in Q2-2025. The Bank typically witnesses higher NPA additions
from the kisan credit card portfolio in the first and third quarter of a fiscal year. Recoveries and upgrades of NPAs, excluding write-offs
and sale, were ₹ 3,392 crore (US$ 396 million) in Q3-2025 compared to ₹ 3,292 crore (US$ 384 million) in Q1-2025 and ₹
3,319 crore (US$ 388 million) in Q2-2025. The net additions to gross NPAs, excluding write-offs and sale, were ₹ 2,693 crore (US$
315 million) in Q3-2025 compared to ₹ 2,624 (US$ 306 million) in Q1-2025 and ₹ 1,754 crore (US$ 205 million) in Q2-2025.
The Bank has written-off gross NPAs amounting to ₹ 2,011 crore (US$ 235 million) in Q3-2025. The provisioning coverage ratio on
non-performing loans was 78.2% at December 31, 2024.
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
Excluding
NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines declined to
₹ 2,107 crore (US$ 246 million) or 0.2% of total advances at December 31, 2024 from ₹ 2,546 crore (US$ 297 million) at September
30, 2024. The Bank holds provisions amounting to ₹ 691 crore (US$ 81 million) against these borrowers under resolution, as of December
31, 2024. In addition, the Bank continues to hold contingency provisions of ₹ 13,100 crore (US$ 1.5 billion) at December 31, 2024.
The loan
and non-fund based outstanding to performing corporate borrowers rated BB and below was ₹ 2,193 crore (US$ 256 million) at December
31, 2024 compared to ₹ 3,386 crore (US$ 395 million) at September 30, 2024.
Capital
adequacy
Including
profits for the nine months ended December 31, 2024 (9M-2025), the Bank’s total capital adequacy ratio at December 31, 2024 was
16.60% and CET-1 ratio was 15.93% compared to the minimum regulatory requirements of 11.70% and 8.20% respectively.
Consolidated
results
The consolidated
profit after tax increased by 16.6% year-on-year to ₹ 12,883 crore (US$ 1.5 billion) in Q2-2025 from ₹ 11,053 crore (US$
1.3 billion) in Q3-2024.
Consolidated
assets grew by 14.7% year-on-year to ₹ 25,31,488 crore (US$ 295.7 billion) at December 31, 2024 from ₹ 22,08,018 crore (US$
257.9 billion) at December 31, 2023.
Key subsidiaries
The annualised
premium equivalent of ICICI Prudential Life Insurance (ICICI Life) was ₹ 6,905 crore (US$ 806 million) in 9M-2025 compared to ₹
5,430 crore (US$ 634 million) in 9M-2024. Value of New Business (VNB) of ICICI Life was ₹ 1,575 crore (US$ 184 million) in 9M-2025
compared to ₹ 1,451 crore (US$ 169 million) in 9M-2024. The VNB margin was 22.8% in 9M-2025 compared to 24.6% in FY2024 and 26.7%
in 9M-2024. The profit after tax increased to ₹ 803 crore (US$ 94 million) in 9M-2025 compared to ₹ 679 crore (US$ 79 million)
in 9M-2024 and ₹ 326 crore (US$ 38 million) in Q3-2025 compared to ₹ 227 crore (US$ 27 million) in Q3-2024.
The Gross
Direct Premium Income (GDPI) of ICICI Lombard General Insurance Company (ICICI General) was ₹ 6,214 crore (US$ 726 million) in
Q3-2025 as compared to ₹ 6,230 crore (US$ 728 million) in Q3-2024. The combined ratio stood at 102.7% in Q3-2025 compared to 103.6%
in Q3-2024. The profit after tax of ICICI General increased by 67.9% to ₹ 724 crore (US$ 85 million) in Q3-2025 from ₹ 431
crore (US$ 50 million) in Q3-2024. With effect from October 1, 2024,
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
long-term products are accounted on 1/n basis, as mandated by IRDAI,
hence Q3 numbers are not fully comparable.
The profit
after tax of ICICI Prudential Asset Management Company, as per Ind AS, increased to ₹ 632 crore (US$ 74 million) in Q3-2025 from
₹ 546 crore (US$ 64 million) in Q3-2024.
The profit
after tax of ICICI Securities, on a consolidated basis, as per Ind AS, increased to ₹ 504 crore (US$ 59 million) in Q3-2025 from
₹ 466 crore (US$ 54 million) in Q3-2024.
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
Summary Profit
and Loss Statement (as per standalone Indian GAAP accounts)
| |
|
|
|
|
₹ crore |
|
| |
FY2024 |
Q3-2024 |
9M-2024 |
Q2-2025 |
Q3-2025 |
9M-2025 |
| |
Audited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
| Net
interest income |
74,306 |
18,678 |
55,213 |
20,048 |
20,371 |
59,972 |
| Non-interest
income |
22,949 |
5,975 |
17,019 |
6,496 |
6,697 |
19,582 |
| -
Fee income |
20,796 |
5,313 |
15,360 |
5,894 |
6,180 |
17,564 |
| -
Dividend income from subsidiaries |
2,073 |
650 |
1,589 |
541 |
509 |
1,944 |
| -
Other income |
80 |
12 |
70 |
61 |
8 |
74 |
| Less: |
|
|
|
|
|
|
| Operating
expense |
39,133 |
10,052 |
29,430 |
10,501 |
10,552 |
31,583 |
| Core
operating profit1 |
58,122 |
14,601 |
42,802 |
16,043 |
16,516 |
47,971 |
| Total
net provision |
3,643 |
1,050 |
2,924 |
1,233 |
1,227 |
3,792 |
| -
Contingency provisions2 |
- |
- |
- |
- |
- |
- |
| -
Other provisions |
3,643 |
1,050 |
2,924 |
1,233 |
1,227 |
3,792 |
| Profit
before tax excl. treasury |
54,479 |
13,551 |
39,878 |
14,810 |
15,289 |
44,179 |
| Treasury |
93 |
123 |
290 |
680 |
371 |
1,664 |
| Profit
before tax |
54,488 |
13,674 |
40,168 |
15,490 |
15,660 |
45,843 |
| Less: |
|
|
|
|
|
|
| Provision
for taxes |
13,600 |
3,402 |
9,987 |
3,744 |
3,868 |
11,246 |
| Profit
after tax |
40,888 |
10,272 |
30,181 |
11,746 |
11,792 |
34,597 |
| |
|
|
|
|
|
|
|
|
|
|
|
| 2. | The Bank continues to hold contingency
provision of ₹ 13,100 crore (US$ 1.5 billion) at December 31, 2024 |
| 3. | The treasury loss during Q4-2024 includes
the impact of transfer of negative balance of ₹ 340 crore (US$ 40 million) in Foreign
Currency Translation Reserve related to Bank’s Offshore Unit in Mumbai to profit and
loss account in view of the proposed closure of the Unit |
| 4. | Prior period numbers have been re-arranged
wherever necessary |
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
Summary balance sheet
| |
|
|
|
₹ crore |
| |
31-Dec-23 |
31-Mar-24 |
30-Sep-24 |
31-Dec-24 |
| |
Unaudited |
Audited |
Unaudited |
Unaudited |
| Capital
and liabilities |
|
|
|
|
| Capital |
1,403 |
1,405 |
1,409 |
1,412 |
| Employee stock options outstanding |
1,243 |
1,405 |
1,651 |
1,802 |
| Reserves and surplus |
2,24,191 |
2,35,589 |
2,56,480 |
2,68,429 |
| Deposits |
13,32,315 |
14,12,825 |
14,97,761 |
15,20,309 |
| Borrowings (includes subordinated debt) |
1,26,871 |
1,24,968 |
1,24,493 |
1,27,731 |
| Other liabilities and provisions |
97,199 |
95,323 |
95,064 |
93,660 |
| Total
capital and liabilities |
17,83,222 |
18,71,515 |
19,76,858 |
20,13,343 |
| |
|
|
|
|
| Assets |
|
|
|
|
|
Cash and balances with
Reserve Bank of India
|
64,869 |
89,712 |
89,102 |
75,780 |
|
Balances with banks and
money at call and short notice
|
34,459 |
50,214 |
47,697 |
67,635 |
| Investments |
4,36,650 |
4,61,942 |
4,79,098 |
4,71,978 |
| Advances |
11,53,771 |
11,84,406 |
12,77,240 |
13,14,366 |
| Fixed assets |
10,354 |
10,860 |
11,546 |
11,922 |
| Other assets |
83,119 |
74,381 |
72,175 |
71,662 |
| Total
assets |
17,83,222 |
18,71,515 |
19,76,858 |
20,13,343 |
| 1. | Prior period figures have been re-grouped/re-arranged
wherever necessary |
| | ICICI Bank Limited ICICI Bank Towers Bandra Kurla Complex Mumbai 400 051 |
Certain definitions in this release
relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking
statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. These risks and uncertainties include, but are not limited to statutory and
regulatory changes, international economic and business conditions, political or economic instability in the jurisdictions where the
Bank has operations or which affect global or Indian economic conditions, increase in nonperforming loans, unanticipated changes in interest
rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance
for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure
to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports filed by us with the United
States Securities and Exchange Commission. Any forward-looking statements contained herein are based on assumptions that the Bank believes
to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward-looking statements to reflect
events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described
in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov
This release does
not constitute an offer of securities.
For further press queries please email
Sujit Ganguli / Kausik Datta at sujit.ganguli@icicibank.com / datta.kausik@icicibank.com
or corporate.communications@icicibank.com
For investor queries please email Abhinek
Bhargava at abhinek.bhargava@icicibank.com or Nitesh Kalantri at nitesh.kalantri@icicibank.com
or ir@icicibank.com.
1 crore = 10.0 million
US$ amounts represent convenience translations
at US$1= ₹ 85.62
Item 5.
Annexure
Mr. Sandeep Batra
(DIN: 03620913)
Mr. Sandeep Batra
is an Executive Director on the Board of ICICI Bank and is responsible for the Corporate Centre since July 2018.
He is the Chairman
of ICICI Prudential Life Insurance Company Limited, ICICI Prudential Asset Management Company Limited and ICICI Venture Funds Management
Company Limited. He also serves on the Board of ICICI Lombard General Insurance Company Limited.
He has been with
ICICI since 2000 and has worked in various areas across the group.
He is a Chartered
Accountant and Company Secretary by qualification.
Mr. Batra is not
related to any other director of the Bank. We affirm that
Mr. Batra is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any
other such authority.
Mr. Rakesh Jha
(DIN: 00042075)
Mr. Rakesh Jha is
an Executive Director on the Board of ICICI Bank. He is responsible for the Retail, Wholesale, Markets, Treasury, Transaction Banking,
Digital Channels, Brand & Marketing functions of the Bank.
He is the Chairperson
of the Board of ICICI Lombard General Insurance Company Limited, ICICI Home Finance Company Limited and ICICI Securities Limited. He
also serves on the Board of ICICI Venture Funds Management Company Limited.
He has been with
ICICI since 1996 and has worked in various areas. He was the Group Chief Financial Officer in his previous role.
He has a management
degree from the Indian Institute of Management, Lucknow and an engineering degree from the Indian Institute of Technology, Delhi.
Mr. Jha is not related
to any other director of the Bank. We affirm that Mr. Jha is not debarred from holding the office of Director by virtue of any order
of Securities and Exchange Board of India or any other such authority.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorised.
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For
ICICI Bank Limited |
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| Date |
: January 25, 2025 |
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By: |
/s/ Vivek Ranjan |
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Name: |
Vivek
Ranjan |
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Title: |
Assistant General Manager |
Icici Bank (NYSE:IBN)
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부터 1월(1) 2025 으로 2월(2) 2025
Icici Bank (NYSE:IBN)
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부터 2월(2) 2024 으로 2월(2) 2025
