ICICI Bank Q3 FY22 Results
ICICI Bank posted its quarterly earnings report on January 22, 2022. The bank reported a 25% year-on-year (YoY) increase in its standalone profit after tax (PAT) at Rs 6,194 crore from Rs 4,940 in the year ago period. This is a 12.3% quarter-on-quarter (QoQ) jump from the Rs 5,511 crore reported in Q2 FY22.
The Net Interest Income (NII) for the October-December period was Rs 12,236 crore, a 23% YoY jump from Rs 9,912 crore recorded in the corresponding quarter in the previous financial year. The Net Interest Margin (NIM) for the quarter under review came in at 3.96% compared to 4% in the previous quarter and 3.67% in Q3 FY21. The bank’s provisions for the quarter were down by 27% YoY to Rs 2,007 crore from Rs 2,742 crore.
ICICI Bank’s total income rose 10.8% YoY at Rs 27,069 crore from Rs 24,416 crore in the same quarter last financial year while on a sequential basis, there was a marginal increase of 4% from Rs 24,030 crore reported in the October-December quarter.
ICICI Bank’s Gross NPA was down to 4.13% from 4.82% in the previous quarter and 4.38% in the year ago period. The bank’s Net NPA was down to 0.85% from 0.99% in the previous quarter however, it increased from 0.63% in Q3 FY21.
ICICI Bank’s stock closed in the red at Rs 804.50 per share after taking a 0.71% dip ahead of its quarterly results after the end of the intraday trading session on January 22, 2022.
Hits
- PAT up 25% YoY at Rs 6,194 crore from Rs 4,940 in Q3 FY21
- On a sequential basis, PAT up 12.3% QoQ from Rs 5,511 crore in Q2 FY22
- NII up 23% YoY to Rs 12,236 crore from Rs 9,912 crore
- Total income up 10.8% at Rs 27,069 crore from Rs 24,416 crore
- Gross NPA at 4.13% from 4.28% in the year ago period
- ROA up to 1.90% from 1.70% in Q3 FY21 and 1.79% in the previous quarter
- Total deposits up by 16% YoY and 4% QoQ to Rs 10.17 lakh crore
Misses
- NIM remained largely flat, both on a sequential and YoY basis
- Net NPA up at 0.85% from 0.63% in the year ago period
Segment-wise revenue
- Retail Banking: Revenue up 13.7% YoY to Rs 21,662 crore from Rs 19,051 crore in Q3 FY21
- Wholesale Banking: Revenue up 11% YoY to Rs 10,327 crore from Rs 9,279 crore in Q3 FY21
- Treasury: Revenue up 7% YoY to Rs 17,090 crore from Rs 15,954 crore in Q3 FY21
- Other Banking: Revenue down 9.8% YoY to Rs 765 crore from Rs 849 crore in Q3 FY21
- Life Insurance: Revenue up 0.6% YoY to Rs 11,157 crore from Rs 11,085 crore in Q3 FY21
- Others: Revenue up 12.7% YoY to Rs 2,141 crore from Rs 1,899 crore in Q3 FY21
Other things to know about ICICI Bank
- ICICI Bank has the second highest market capitalization in the large cap private banking sector at Rs 5.62 lakh crore.
- The bank’s P/E ratio is at 30.60 against the industry average of 28.04 while its P/B ratio is at 3.37 against the industry average of 2.37.
- ICICI Bank’s dividend yield is at 0.25% against the industry average of 0.54%
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