ICICI Bank Q2 FY2022 core operating profit up by 23% to Rs 95.2bn

ICICI Bank has reported a core operating profit of INR 9,518 crores ($1.3 billion) for the second quarter of the fiscal year 2022 (Q2 FY2022) that ended 30 September 2021, an increase of 23% compared to INR 7,719 crores ($1 billion) for the same quarter of the previous fiscal year.

In the first quarter of the fiscal year 2022, ICICI Bank had posted a core operating profit of INR 8,605 crores.

The Indian private sector banking group said that its profit after tax increased by 30% year-on-year (YoY) in Q2 FY2022 to INR 5,511 crores ($742 million).

Its total deposits for the reported quarter moved up by 17% YoY to INR 977,449 crores ($131.7 billion).

ICICI Bank Q2 FY2022 core operating profit up by 23% to Rs 95.2bn. Photo courtesy of Sumedh/Wikipedia.org.

ICICI Bank saw an increase of 25% in its net interest income (NII) to INR 11,690 crores in Q2 FY2022 from INR 9,366 crores in Q2 FY2021.

The bank’s fee income surged by 21% YoY to INR 3,811 crores ($513 million) in the reported quarter, compared to INR 3,139 crores ($423 million) in Q2 FY2021. Its fees from retail, business banking, and SME customers in the reported quarter moved up by 25% YoY and made up nearly 78% of total fees in Q2 FY2022.

Treasury income for ICICI Bank in Q2 FY2022 was INR 397 crores ($53 million) compared to INR 542 crores ($73 million) in Q2 FY2021.