ICICI Bank Q3 2022 core operating profit up by 25% to Rs 100.6bn

ICICI Bank has reported a core operating profit of INR 10,060 crores ($1.4 billion) for the third quarter of the fiscal year 2022 (Q3 2022) that ended 31 December 2021, an increase of 25% compared to INR 8,054 crores ($1.1 billion) for the same quarter of the previous fiscal year.

In the second quarter of the fiscal year 2022, the Indian private sector bank had posted a core operating profit of INR 9,518 crores ($1.3 billion).

ICICI Bank said that its profit after tax increased by 25% year-on-year (YoY) in Q3 2022 to INR 6,194 crores ($833 million) compared to INR 4,940 crores ($665 million) in Q3 2021.

ICICI Bank Q3 2022 core operating profit up by 25% to Rs 100.6bn. Photo courtesy of Sumedh/Wikipedia.org.

Its total deposits for the reported quarter moved up by 16% YoY to INR 10,17,467 crores ($136.9 billion).

ICICI Bank saw an increase of 23% in its net interest income (NII) to INR 12,236 crores ($1.6 billion) in Q3 FY2022 from INR 9,912 crores ($ 1.3 billion) in Q3 2021.

The bank’s fee income increased by 19% YoY to INR 4,291 crores ($ 577 million) in the reported quarter, compared to INR 3,601 crores ($ 484 million) in Q3 2021. ICICI Bank’s fees from retail, business banking, and SME customers made up nearly 76% of total fees in Q3 2022.