ICICI Bank Q1 2023 core operating profit up by 19% to Rs 102.7bn

ICICI Bank has reported a core operating profit of INR 10,273 crores ($1.3 billion) for the first quarter of the fiscal year 2023 (Q1 2023) that ended 30 June 2022, an increase of 19%, compared to INR 8,605 crores ($1.1 billion) for the same quarter of the previous fiscal year.

The profit after tax of the Indian private banking group increased by 49.5% year-on-year (YoY) in Q1 2023 to INR 6,905 crores ($874 million), compared to INR 4,616 crores in Q1 2022.

The net interest income of ICICI Bank grew by 21% YoY to INR 13,210 crores ($1.7 billion) in Q1 2023, compared to INR 10,936 crores ($1.4 billion) in Q1 2022.

As on 30 June 2022, ICICI Bank’s total period-end deposits moved up by 13% YoY to INR 1,050,349 crores ($133 billion). The bank had a network of 5,534 branches and 13,379 ATMs at the end of the first quarter of the fiscal year 2023.