ICICI Bank Q2: Revenue Grows 13.5%, Net Profit Hits ₹11,746 Cr, Share Price up 3.15%

ICICI Bank announced a 14.47% increase in net profit, reaching ₹11,745.88 crore in its financial results for the July to September quarter, published on Saturday, October 26. Additionally, the bank reported a 16.08% growth in interest income during this period. 

ICICI Bank Q2 Results Highlights

• Revenue: Revenue reached ₹15,490.09 crore, marking a year-over-year growth of 13.51%.
• Net Profit: Net profit increased by 14.5% year-over-year, reaching ₹11,746 crore compared to ₹10,261 crore in the same period last year.
• NII: increased by 9.5% YoY to ₹20,048 crore.
• Stock Reaction: ICICI Bank share price gained 3.15% to reach ₹1,295.05 a piece.

ICICI Bank Management Commentary

ICICI Bank’s highest revenue gains came from its retail banking and treasury segments. Revenue from the retail banking segment grew by 17.14% to ₹38,750.86 crore in the July to September quarter, up from ₹33,080.02 crore in the same period last year. Meanwhile, the bank’s digital banking segment saw a 31.49% increase, reaching ₹10,051 crore in the second quarter compared to ₹7,644.09 crore year-on-year.

Stock Market Reaction

Brokerages showed optimism regarding ICICI Bank’s strong performance in the July-September quarter (Q2FY25), issuing numerous 'buy' recommendations and increasing target prices. Analysts predict a potential upside of up to 28% from current levels, as the bank’s consistent results have strengthened its position as a leader among private sector competitors. 

About ICICI Bank

ICICI Bank Ltd, a major player in the private banking sector, provides a diverse array of financial products. Its core activities encompass commercial banking services for both retail and corporate clients, offering an extensive selection of banking products and financial solutions. The bank delivers its products and services through various channels, including bank branches, ATMs, call centers, internet, and mobile phones.