ICICI Bank Posts Rs 11,059 Cr In Net Profit, Infuses Rs 500 Cr In Home Finance Subsidiary

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ICICI Bank Posts Rs 11,059 Cr In Net Profit, Infuses Rs 500 Cr In Home Financ...

by Pabitra Mohan Senapaty

NEWS HIGHLIGHTS

ICICI Bank on Saturday reported a 14.6 per cent increase in net profit to Rs 11,059 crore for the April-June quarter of the current financial year compared to the corresponding figure of Rs 9,648.2 crore in the same period last year.

Mumbai, July 27: ICICI Bank on Saturday reported a 14.6 per cent increase in net profit to Rs 11,059 crore for the April-June quarter of the current financial year compared to the corresponding figure of Rs 9,648.2 crore in the same period last year.

According to the bank’s executive director (ED) Sandeep Batra, “in Q1 FY25, we infused about Rs 500 crore” in ICICI Home Finance, the home finance subsidiary.

The bank's net interest income went up by 7.3 per cent to Rs 19,552.9 crore during the first quarter from Rs 18,227 crore in the year-ago period.

The gross non-performing asset of the lender came in at 2.15 per cent. The net non-performing assets (NNPA) stood at 0.43 per cent compared to 0.42 per cent last year.

ICICI Bank also disclosed that its provisions for Q1 have increased by 3.1 per cent year-on-year to Rs 1,332.2 crore, compared to Rs 1,292 crore in the same period last fiscal.

The period-end deposits grew by 15.1 per cent (year-on-year) to Rs 14,26,150 crore while average deposits grew by 17.8 per cent to Rs 13,78,658 crore in the quarter.

Domestic loan portfolio grew by 15.9 per cent year-on-year to Rs 11,88,587 crore.

According to the bank, average current account deposits increased by 13.3 per cent while average savings account deposits went up by 8.2 per cent.

With the addition of 64 branches during Q1-2025, the bank had a network of 6,587 branches and 17,102 ATMs and cash recycling machines.

“The gross NPA additions were Rs 5,916 crore in Q1 FY25 compared to Rs 5,139 crore in the same period last fiscal.

“The Bank has written off gross NPAs amounting to Rs 1,753 crore in Q1-2025. The provisioning coverage ratio on NPAs was 79.7 per cent at June 30,” said the ICICI Bank.

In the quarter, the annualised premium equivalent of ICICI Prudential Life Insurance (ICICI Life) increased by 34.4 per cent to Rs 1,963 crore, from Rs 1,461 crore in Q1 2024.

--IANS

Odisha Celebrates ‘Nuakhai’ With Traditional Pomp And Gaiety

by Hemanta Pande

Bhubaneswar, Sep 8: People of Odisha, mostly western and some southern parts of the State, are celebrating 'Nauakhai' festival, an agricultural festival that marks the beginning of new rice season, today with traditional pomp and gaiety.

The festival is observed on Panchami tithi (the fifth day) in the lunar fortnight of Bhadrapada or Bhaadra (August-September), the day after the Ganesh Chaturthi festival.

This year, the Nuakhai festival celebrations began with 'Nabanna' or new crop offering to Goddess Samaleswari in Sambalpur between 9 AM and 9.27 AM and 9.35 AM to 10 AM in Balangir district.

Nua means New and Khai means food so the newly harvested food is offered to the village Goddess by the people of Western Odisha.

After offering Nabanna to the Goddess, the food is distributed among people and they consume it together. After completing all the rituals, people prepare delicious food and celebrate this festival with great pomp and show.

On the day, each and every member of the family wear new dress and they greet each other, show affection and take blessings from the elderly members of the family. This ritual is popularly known as 'Nuakhai Juhar'.

People staying outside visit their houses during the festival. An ambience of religious fervour is marked everywhere in western Odisha during the festival.

Odisha CM Mohan Charan Majhi, Union Education Minister and Sambalpur MP, Dharmendra Pradhan and other dignitaries extended greetings to the people of Western Odisha and wished Nuakhai – the unique festival of love, devotion and harmony to bring happiness, peace and prosperity to all.

Marking the occasion, CM Majhi will launch the CM Kisan Yojana from Sambalpur today.

The landless farmers who were not covered under PM Kisan Yojana will get the benefit of CM Kisan scheme. Around Rs 4,000 will be given to farmers as assistance in two phases. In the first phase, i.e., on Nuakhai, the farmers will get Rs 2000, and on Akshaya Tritiya, they will receive the remaining half, officials said.

Read More Odisha News

Lucknow Building Collapse: Death Toll Climbs To 8, 3 More Bodies

by Hemanta Pande

Lucknow, Sep 8: The death toll in the building collapse here climbed to eight, with rescuers pulling out three more bodies from the debris, officials said on Sunday.

Twenty-eight people were injured when the three-storey building housing godowns and a motor workshop collapsed in the Transport Nagar area here on Saturday evening.

Police said the building was constructed around four years ago and some construction work was underway at the time of the incident. Most of the victims were working on the ground floor when the incident occurred at 4:45 p.m. on Saturday.

The operation is still underway.

A senior district administration official said they are now focusing on ensuring that no one else is trapped under the rubble.

The State Disaster Response Force (SDRF) recovered the bodies of three people, who were identified as Raj Kishore (27), Rudra Yadav (24) and Jagrup Singh (35), during the rescue operation, Relief Commissioner G.S. Naveen said on Sunday.

The injured have been admitted to various hospitals, including Lok Bandhu Hospital, in the district.

According to the officials, the building had a motor workshop and warehouse on the ground floor, a medical godown on the first floor and a cutlery warehouse on the second floor.

Uttar Pradesh Chief Minister Yogi Adityanath has directed district officials to accelerate relief efforts and ensure that those injured in the incident are immediately taken to the hospital and given appropriate medical care.

"Uttar Pradesh CM Yogi Adityanath has taken cognisance of the building collapse incident in Transport Nagar, Lucknow,” the Uttar Pradesh Chief Minister's Office (CMO) wrote on X on Saturday.

"The Chief Minister has directed the district administration officials, SDRF, and NDRF teams to reach the site and expedite the relief work, ensuring that the injured are immediately taken to the hospital for proper treatment. He also wished for the speedy recovery of the injured,” it said.

Meanwhile, the Defence Minister and Lok Sabha MP from Lucknow, Rajnath Singh, has expressed his sorrow over the deaths.

Taking to X, Rajnath Singh on Saturday said, "The news of the collapse of a building in Lucknow is extremely painful. I have spoken to the District Magistrate of Lucknow over the phone and got information about the situation at the spot. The local administration is carrying out relief and rescue operations on the spot and is engaged in helping the victims in every possible way." (IANS)

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ICICI Bank Posts Rs 11,059 Cr In Net Profit, Infuses Rs 500 Cr In Home Finance Subsidiary

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