ICICI Bank

ICICI Bank posted encouraging numbers for Q1FY16 with an improvement in both profitability as well as asset quality. The largest private sector bank reported a 12% (YoY) rise in net profit at Rs.2976 crore in a 14% jump in NII at Rs.5115 crore. Other income for the quarter also showed a modest rise of 5% at Rs.2990 crore while operating profit showed a 11% rise at Rs.5038 crore

Asset quality also improved – Gross NPA fell 10 bps to 3.68% (QoQ) and Net NPA showed a marginal decline of 3ps at 1.58%. Provisions during current Q1 rose 32%(YoY) at Rs.756 crore though fell 29% sequentially. Provision coverage ratio was at 58.2%. The Bank said that net loans to companies whose facilities have been restructured by the bank were Rs 12,604 crore in Q1FY16 v/s Rs 11,017 crore in Q4FY15.

The Bank’s retail loan portfolio is once again pretty robust, showing a 25% (YoY) growth, constituting 43% of total loan portfolio. Its advances rose 15% (YoY) at Rs.3,99,738 crore and deposits showed a 10% rise at Rs.3,67,877 crore. CASA ratio came in at 44.1% v/s 45.5% in Q4 and 43% in Q1FY15.