On September 30, 2022, ICICI Bank’s retail loan portfolio, which made up 54% of the entire loan portfolio, increased by 25% year over year and 6% sequentially. As of September 30, 2022, the portfolio’s non-fund outstanding portion was 44% of the whole portfolio.
On September 30, 2022, ICICI Bank’s retail loan portfolio, which made up 54% of the entire loan portfolio, increased by 25% year over year and 6% sequentially. As of September 30, 2022, the portfolio’s non-fund outstanding portion was 44% of the whole portfolio.
According to ICICI Bank, there were net additions to gross NPAs of 605 crore during the quarter as opposed to 382 crore in Q1FY23.
In the September quarter, ICICI Bank posted a net profit of Rs 7,557.84 crore, an increase of 37.14%.
In addition, NPA recoveries and upgrades, excluding write-offs and sales, were $3,761 billion in Q2 FY23 versus $5,443 billion in Q1 FY23. Gross NPA write-offs were 1,103 crore in Q2 2023. As of September 30, 2022, the provisioning coverage ratio for NPAs was 80.6%.
Provisions (excluding tax provisions) decreased from 2,714 crore in Q2FY22 to 1,644 crore in Q2FY23, a 39% year-over-year decrease. A sensible contingency provision of 1,500 crore is included in the provisions for Q2FY23.
The bank’s total loan portfolio has increased by 23%. The number of deposits has increased by 12%. The bank has received a total of Rs 10.9 lakh crore in deposits. The retail lending market has increased year over year by 25%. 54 percent of the total loan book is made up of retail loans. The growth in business banking has increased by 44% since last year.
Customers may conduct the majority of their trade financing and foreign exchange transactions digitally thanks to the Trade Online and Trade Emerge platforms from ICICI Bank. In Q2 of this year, around 70% of business transactions were conducted digitally. In Q2 of this year, the value of transactions conducted through these platforms climbed year over year by 70%.