October 22, 2022
Core operating profit (profit before provisions and tax,
excluding treasury income) grew by 24% year–on–year to `
11,765 crore (US$ 1.4 billion) in the quarter ended September
30, 2022 (Q2–2023)
Profit after tax grew by 37% year–on–year to ` 7,558 crore (US$
929 million) in Q2–2023
Total period–end deposits grew by 12% year–on–year to `
1,090,008 crore (US$ 134.0 billion) at September 30, 2022
Average current account and savings account (CASA) ratio
was 45.0% in Q2–2023
Net NPA ratio declined to 0.61% at September 30, 2022 from
0.70% at June 30, 2022
Provisioning coverage ratio on non–performing assets was
80.6% at September 30, 2022
Including profits for the six months ended September 30, 2022
(H1–2023), total capital adequacy ratio was 18.27% and Tier–1
capital adequacy ratio was 17.51%, on a standalone basis, at
September 30, 2022
Growth in digital and payments platforms
In December 2020, the Bank had expanded its mobile banking app, iMobile,
to iMobile Pay which offers payment and banking services to customers of
any bank. There have been 80 lakh activations of iMobile Pay from non–ICICI
Bank account holders as of September 30, 2022.
Asset quality
The gross NPA ratio declined to 3.19% at September 30, 2022 from 3.41%
at June 30, 2022 and 4.82% at September 30, 2021.
Consolidated results
The consolidated profit after tax increased by 31% year–on–year to ` 8,007
crore (US$ 984 million) in Q2–2023 from ` 6,092 crore (US$ 749 million) in
Q2–2022.
Consolidated assets grew by 14% year–on–year to ` 1,833,154 crore (US$
225.4 billion) at September 30, 2022 from ` 1,604,053 crore (US$ 197.2
billion) at September 30, 2021
Key subsidiaries and associates
Value of New Business (VNB) of ICICI Prudential Life Insurance (ICICI Life)
increased by 25% year–on–year to ₹ 1,092 crore (US$ 134 million) in H1–
2023. The VNB margin increased from 28.0% in FY2022 to 31.0% in H1–2023.
The annualised premium equivalent increased by 10% year–on–year to `
3,519 crore (US$ 433 million) in H1–2023. The profit after tax was ` 199 crore
(US$ 24 million) in Q2–2023 compared to ` 445 crore (US$ 55 million) in Q2–
2022
