ICICI Bank Q3 internet up 25% as curiosity revenue rises; asset high quality improves

Aided by greater curiosity revenue, ICICI Bank on Saturday reported a 25 per cent improve in internet revenue at Rs 6,194 crore through the December quarter of FY22, from Rs 4,940 crore in the identical interval a yr in the past.
Total revenue rose to Rs 27,069 crore within the quarter from Rs 24,416 crore final yr. The financial institution’s asset high quality improved with gross non-performing property (NPAs) at Rs 37,052 crore (4.13 per cent) as of December 2021, in opposition to Rs 34,860 crore (4.38 per cent) a yr in the past.
Last week, HDFC Bank had reported a rise of 18 per cent in its third quarter internet revenue at Rs 10,342 crore.
Net curiosity revenue (NII) for ICICI Bank elevated by 23 per cent year-on-year to Rs 12,236 crore in Q3FY22 from Rs 9,912 crore. The internet curiosity margin was 3.96 per cent, in comparison with 3.67 per cent in Q3 of FY21 and 4.00 per cent within the quarter ended September 2021.

The worth of cellular banking transactions elevated by 50 per cent year-on-year to Rs 4,55,326 crore. Digital channels like web, cellular banking, level of sale (PoS) and others accounted for over 90 per cent of the financial savings account transactions within the 9 months of FY2022.
The non-public financial institution’s retail mortgage portfolio grew by 19 per cent year-on-year and 5 per cent sequentially, and comprised 61.3 per cent of the whole mortgage portfolio as of December 2021. Including non-fund excellent, the retail mortgage portfolio was 51.3 per cent of the whole portfolio.
It stated the worth of bank card spends in Q3FY22 was 2.2 instances the worth of bank card spends in Q3FY21, and grew by 27 per cent sequentially. ICICI Bank’s enterprise banking portfolio grew 39 per cent year-on-year and 9 per cent sequentially.

The SME enterprise, comprising debtors with a turnover of lower than Rs 250 crore, grew by 34 per cent year-on-year and 10 per cent sequentially. Growth within the home wholesale banking portfolio was 13 per cent year-on-year and 9 per cent sequentially. Domestic advances grew by 18 per cent year-on-year and 6 per cent sequentially as of December 2021.
Total advances elevated by 16 per cent year-on-year and 6 per cent sequentially to Rs 8,13,992 crore within the third quarter. Total deposits rose by 16 per cent year-on-year and 4 per cent sequentially to Rs 10,17,467 crore as of December 2021.
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Yes Bank revenue rises to Rs 266 crore
New Delhi: Private sector lender Yes Bank on Saturday reported a 77 per cent leap in revenue to Rs 266.43 crore for the third quarter ended December 2021. The financial institution had posted a revenue of Rs 150.77 crore within the October-December quarter a yr in the past.
However, whole revenue through the quarter beneath evaluation declined to Rs 5,632.03 crore from Rs 6,408.53 crore in the identical interval final fiscal, Yes Bank stated in a regulatory submitting. Net curiosity revenue additionally slipped by 31 per cent to Rs 1,764 crore as in comparison with Rs 2,560 crore in the identical quarter a yr in the past.
The financial institution’s gross non-performing property (GNPAs) as a proportion of property eased to 14.65 per cent through the quarter from 15.36 per cent within the year-ago interval. PTI