ICICI Bank Q3 net up 25% as interest income rises; asset quality improves

The value of mobile banking transactions increased by 50 per cent year-on-year to Rs 4,55,326 crore. Digital channels like internet, mobile banking, point of sale (PoS) and others accounted for over 90 per cent of the savings account transactions in the nine months of FY2022.

The private bank’s retail loan portfolio grew by 19 per cent year-on-year and 5 per cent sequentially, and comprised 61.3 per cent of the total loan portfolio as of December 2021. Including non-fund outstanding, the retail loan portfolio was 51.3 per cent of the total portfolio.

It said the value of credit card spends in Q3FY22 was 2.2 times the value of credit card spends in Q3FY21, and grew by 27 per cent sequentially. ICICI Bank’s business banking portfolio grew 39 per cent year-on-year and 9 per cent sequentially.

The SME business, comprising borrowers with a turnover of less than Rs 250 crore, grew by 34 per cent year-on-year and 10 per cent sequentially. Growth in the domestic 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 increased by 16 per cent year-on-year and 6 per cent sequentially to Rs 8,13,992 crore in 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.