ICICI Bank Limited – Q1 FY 2022-23
ICICI Bank Limited – an Indian multinational bank and financial services company has posted its Q1 FY 2022-23 numbers today. Here are more details –
Total Income
On a consolidates basis, the company’s total income stood at INR 39218.33 Cr for the Q1 ended 30 June 2022 as against INR 35351.97 Cr for a period one year ago, registering a growth of 10.94% Y-O-Y basis. However, the bank’s income de-grew by 8.44% Q-O-Q basis (INR 42834.06 Cr for the quarter ended 31 March 2022)
While comparing the segment-wise revenue, ‘Retail Banking’ has generated the highest income for the bank (INR 23,888 Cr for Q1 FY 2022-23) followed by Treasury income (INR 18,358 Cr) , Wholesale Banking (INR 10,869 Cr), and Life Insurance (INR 8997 Cr)
Total Expenses of the Bank are as follows –
INR 28,095.75 Cr as on 30 June 2022,
INR 25,938.65 Cr as on 30 June 2021,
INR 31,306.02 Cr as on 31 March 2022
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Net Profit
The bank’s has generated a net profit (on a consolidated basis) of INR 7384.53 Cr for the Q1 FY 2022-23 as against INR 4762.77 Cr for the period ended 30 June 2021, registering a growth of 55.05% year-on-year basis. However, on a Q-O-Q basis the banks profit de-grew by 4.33% (PAT of INR 7718.94 Cr for the period ended 31 March 2022)
EPS of the bank are as follows –
INR 10.62 as on 30 June 2022,
INR 6.88 as on 30 June 2021,
INR 11.11 as on 31 March 2022
Growth in ‘Digital and Payments Platforms’
In December 2020, the Bank had expanded its mobile banking app, iMobile, to iMobile Pay which offers banking and payment services to customers of any bank.
The value of credit card spends in Q1-2023 grew by 13% sequentially and was two times the value of spends in Q1-2022 largely driven by (1) improvement in discretionary spending, (2) higher activation rate through digital onboarding of customers (including Amazon Pay credit cards), and (3) diversification through commercial cards.
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Credit Growth
The retail loan portfolio grew by 24% year-on-year and 5% sequentially, and comprised 53.1% of the total loan portfolio at June 30, 2022.
Deposit Growth
Total period-end deposits increased by 13% Y-O-Y basis to INR 1,050,349 Cr at June 30, 2022.
Asset Quality
The gross NPA ratio declined to 3.41% at June 30, 2022 from 3.60% at March 31, 2022 and 5.15% at June 30, 2021. The net NPA ratio declined to 0.70% at June 30, 2022 from 0.76% at March 31, 2022 and 1.16% at June 30, 2021.
Capital Adequacy Ratio
Including profits for Q1-2023, ICICI Bank total capital adequacy ratio at June 30, 2022 was 18.74% and Tier-1 capital adequacy was 17.95% compared to the minimum regulatory requirements of 11.70% and 9.70% respectively.
Daily Chart –
icici bank share price is currently trading at INR 799.60, up 1.73% with a volume of 1,22,67,898 share on the NSE.
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