Icici Bank Limited · NSE:ICICIBANK
Icici Bank — Q3 2025 Earnings Presentation
62 slides from Icici Bank's earnings presentation, Jan 25, 2025
Slide 1: Q3-2025: Performance review
Q3-2025: Performance review January 25, 2025
Slide 2: Forward-looking statements disclaimer
Certain definitions in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospects) are forward-looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litiga
Slide 3: Highlights for Q3-2025
Highlights for Q3-2025 3
Slide 4: Key highlights for Q3-2025 (1/2)
Key highlights for Q3-2025 (1/2) • Profit before tax excluding treasury grew by 12.8% y-o-y and 3.2% q-o-q to ₹ 152.89 bn in Q3-2025 • Core operating profit grew by 13.1% y-o-y and 2.9% q-o-q to ₹ 165.16 bn Earnings • Excluding dividend income from subsidiaries and associates, core operating profit
Slide 5: Key highlights for Q3-2025 (2/2)
Key highlights for Q3-2025 (2/2) • Net NPA ratio was 0.42% at Dec 31, 2024 (Sep 30, 2024: 0.42%) • Net additions of ₹ 26.93 bn to gross NPAs in Q3-2025 (Q1-2025: ₹ 26.24 bn; Q2-2025: ₹ 17.54 bn) Asset quality • Provision coverage was 78.2% at Dec 31, 2024 (Sep 30, 2024: 78.5%) • Fund based o/s of ₹
Slide 6: Operating performance
Operating performance 6
Slide 7: Profit & loss statement
Profit & loss statement (₹ billion) FY2024 Q3- 9M- Q2- Q3- 9M- Q3-o-Q3 2024 2024 2025 2025 2025 (%) Net interest income1 743.06 186.78 552.13 200.48 203.71 599.72 9.1% Non-interest income 229.49 59.75 170.19 64.96 66.97 195.82 12.1% - Fee income 207.96 53.13 153.60 58.94 61.80 175.64 16.3% - Dividen
Slide 8: Profit & loss statement
Profit & loss statement ₹ in billion FY2024 Q3- 9M- Q2- Q3- 9M- Q3-o-Q3 2024 2024 2025 2025 2025 (%) Core operating profit 581.22 146.01 428.02 160.43 165.16 479.71 13.1% Net provisions 36.43 10.502 29.242 12.33 12.27 37.92 16.8% - Contingency provisions - - - - - - - - Other provisions 36.43 10.50
Slide 9: Key ratios
Key ratios Q3- 9M- Q2- Q3- 9M- Percent FY2024 2024 2024 2025 2025 2025 Net interest margin1,2 4.53 4.43 4.57 4.27 4.25 4.29 Cost of deposits2 4.61 4.72 4.53 4.88 4.91 4.88 Cost-to-income 40.2 40.6 40.6 38.6 38.5 38.9 Core operating profit/average assets2 3.37 3.31 3.37 3.27 3.31 3.29 Provisions/core
Slide 10: Unconsolidated segment-wise PBT
Unconsolidated segment-wise PBT Profit before tax FY2024 Q3-2024 9M-2024 Q2-2025 Q3-2025 9M-2025 (₹ billion) Retail 188.49 42.89 133.63 55.56 53.32 151.28 Wholesale 199.72 57.46 144.96 51.98 59.03 160.13 Treasury 148.99 33.28 116.57 46.03 42.18 142.95 Others 7.68 3.11 6.52 1.33 2.07 4.07 Unallocated
Slide 11: Balance sheet growth
Balance sheet growth 11
Slide 12: Outstanding deposits
Outstanding deposits (₹ billion) Dec 31, Sep 30, Dec 31, Y-o-Y % share at Dec 2023 2024 2024 growth 31, 2024 CASA 5,279.95 6,087.23 6,155.86 16.6% 40.5% - Current 1,534.11 1,830.90 1,904.38 24.1% 12.5% - Savings 3,745.84 4,256.33 4,251.48 13.5% 28.0% Term 8,043.20 8,890.38 9,047.23 12.5% 59.5% Total
Slide 13: Average deposits
Average deposits Y-o-Y (₹ billion) Q3-2024 Q2-2025 Q3-2025 growth CASA 5,051.13 5,560.48 5,685.60 12.6% Term 7,781.20 8,720.47 8,899.29 14.4% Total deposits 12,832.33 14,280.95 14,584.89 13.7% Average CASA ratio 39.4% 38.9% 39.0% - • Average current account deposits increased by 13.1% y-o-y and 4.5%
Slide 14: Loan portfolio
Loan portfolio Dec 31, Sep 30, Dec 31, Y-o-Y % share at (₹ billion) 2023 2024 2024 growth Dec 31, 20244 Retail 6,361.87 6,935.07 7,032.65 10.5% 52.4% Rural loans 708.48 787.89 794.96 12.2% 5.9% Business banking1 1,880.85 2,330.25 2,480.48 31.9% 18.5% Domestic corporate and others 2,478.85 2,690.29 2
Slide 15: Retail portfolio
Retail portfolio (₹ billion) Dec 31, Sep 30, Dec 31, Y-o-Y % share at 2023 2024 2024 growth Dec 31, 2024 Mortgages 3,841.32 4,191.05 4,277.45 11.4% 60.8% Vehicle loans 905.01 943.19 956.25 5.7% 13.6% - Auto finance 578.74 606.87 617.08 6.6% 8.8% - Commercial vehicle and 304.48 321.34 326.93 7.4% 4.6
Slide 16: Asset quality trends
Asset quality trends 16
Slide 17: NPA trends
NPA trends (₹ billion) Dec 31, Jun 30, Sep 30, Dec 31, 2023 2024 2024 2024 Gross NPAs1 287.75 287.19 271.21 277.45 Less: cumulative provisions 233.97 230.34 214.36 218.47 Net NPAs1 53.78 56.85 56.85 58.98 Gross NPA ratio1 2.30% 2.15% 1.97% 1.96% Net NPA ratio1 0.44% 0.43% 0.42% 0.42% Provision cover
Slide 18: NPA movement
NPA movement1 ₹ billion FY2024 Q3-2024 Q1-2025 Q2-2025 Q3-2025 Opening gross NPA 311.84 298.37 279.62 287.19 271.21 Add: gross additions (1) 190.27 57.14 59.16 50.73 60.85 - Retail and rural 152.40 45.542 52.043 43.41 53.044 - Corporate and business banking 37.87 11.60 7.12 7.32 7.81 Less: recoverie
Slide 19: Resolution under RBI frameworks
Resolution under RBI frameworks Dec 31, Jun 30, Sep 30, Dec 31, (₹ billion) 2023 2024 2024 2024 Retail and rural1 27.82 23.25 21.29 19.36 Corporate and business banking1 5.36 4.10 4.17 1.71 Total fund based o/s1 33.18 27.35 25.46 21.07 Total fund based o/s1 as % of total 0.3% 0.2% 0.2% 0.2% advances
Slide 20: Standard asset and other provisions
Standard asset and other provisions (₹ billion) Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, 2023 2024 2024 2024 2024 Contingency provisions 131.00 131.00 131.00 131.00 131.00 Provision on non-fund based o/s to 20.61 20.90 19.64 19.11 17.12 NPAs Provisions on fund based o/s to 10.32 9.75 8.63 8.12 6.91 s
Slide 21: Loan portfolio information
Loan portfolio information 21
Slide 22: Diversified and granular loan book
Diversified and granular loan book Breakup of loan portfolio1 at Dec 31, 2024 52.4% of total loans are retail3 2 1. Proportions are gross of BRDS/IBPC 2. This portfolio comprises borrowers with turnover of upto ₹ 7.50 bn 3. Including non-fund based outstanding, the share of retail portfolio was 43.9
Slide 23: Rating-wise loan book for corporate portfolio
Rating-wise loan book for corporate portfolio Mar 31, Mar 31, Mar 31, Mar 31, Sep 30, Dec 31, Rating category1 2021 2022 2023 2024 2024 2024 AA- and above 43.4% 46.4% 45.0% 38.3% 39.4% 37.7% A+, A, A- 27.2% 31.0% 35.6% 40.2% 38.1% 38.2% A- and above 70.6% 77.4% 80.6% 78.5% 77.5% 75.9% BBB+,BBB, BBB-
Slide 24: Corporate: BB and below
Corporate: BB and below (₹ billion) Dec 31, Sep 30, Dec 31, 2023 2024 2024 BB and below outstanding1 47.32 33.86 21.93 - Fund and non-fund o/s to borrowers with loans 6.22 - - under resolution - Other borrowers with o/s greater than ₹ 1.00 bn2 31.66 25.53 16.69 - Other borrowers with o/s less than ₹
Slide 25: Mortgage portfolio
Mortgage portfolio Mortgage portfolio includes home loans ~67%, top-up loans given to existing home loan customers 6%, office premises loans ~5% and loan against property ~19% Home loans are geographically well diversified, built on fundamental premises of cashflow assessment of underlying borrower
Slide 26: Auto and two wheeler finance
Auto and two wheeler finance Auto loan portfolio comprises 87% new vehicles and 13% used vehicles Instant car loan disbursement, a industry first proposition, for pre-approved customers; delivery order is generated digitally in a seamless manner “Dream Car Search”, a one stop digital solution to ass
Slide 27: Rural and personal loan and credit card portfolio
Rural and personal loan and credit card portfolio Rural loans Personal loans and credit cards Gold loans comprise ~2% and kisan credit cards comprise ~2% of the total loan book Growth in retail credit card spends driven by Leverage opportunities for ▪ Improvement in discretionary spending growth in
Slide 28: Business banking portfolio
Business banking portfolio Growth driven by leveraging branch network and digital platforms such as InstaBIZ, Merchant STACK and Trade Online and efforts towards process decongestion such as e- signing of disbursement documents through EazySign Focus on parameterised and programme based lending, gra
Slide 29: Exposure to power sector
Exposure to power sector (₹ billion) Dec 31, Sep 30, Dec 31, Share at Dec 2023 2024 2024 31, 2024 (%) Borrowers classified as NPA or part of BB 13.98 9.23 8.91 1.7% and below portfolio1 Other borrowers 483.33 492.81 502.66 98.3% Total 497.31 502.04 511.57 100.0% • Of the other borrowers aggregating
Slide 30: NBFCs, HFCs and builder portfolio
NBFCs, HFCs and builder portfolio Dec 31, Sep 30, Dec 31, Outstanding (₹ billion) 2023 2024 2024 NBFCs/HFCs1 784.84 880.27 893.60 Builder portfolio (construction finance, lease rental 456.85 542.16 586.36 discounting, term loans and working capital) • Proportion of the NBFCs/HFCs portfolio internall
Slide 31: Portfolio of overseas branches
Portfolio of overseas branches Total outstanding1 at Dec 31, 2024: USD 3.13 billion 1. Corporate fund and non-fund outstanding of overseas branches, net of cash/bank/insurance backed lending 31
Slide 32: Concentration risk ratios
Concentration risk ratios Mar 31, Mar 31, Mar 31, Mar 31, Jun 30, Sep 30, Dec 31, Advances 2021 2022 2023 2024 2024 2024 2024 Exposure to top 20 borrowers1 as a % of 12.1% 9.6% 8.5% 8.3% 8.3% 7.8% 7.5% total exposure Exposure to top 10 groups as a % of total 11.6% 10.3% 10.1% 10.0% 10.1% 9.8% 9.7% e
Slide 33: Capital
Capital 33
Slide 34: Standalone capital adequacy
Standalone capital adequacy Sep 30, 20241 Dec 31, 20242 (₹ billion) % (₹ billion) % Total capital 2,273.43 15.35% 2,275.24 14.71% - Tier I 2,170.44 14.65% 2,172.21 14.04% - of which: CET1 2,170.44 14.65% 2,172.21 14.04% - Tier II 102.99 0.70% 103.03 0.67% Risk weighted assets 14,812.96 15,467.07 - O
Slide 35: Group companies
Group companies 35
Slide 36: Profit after tax of key subsidiaries
Profit after tax of key subsidiaries Profit after tax (₹ billion) Q3- Q2- Q3- FY2024 2024 2025 2025 ICICI Prudential Life Insurance 8.52 2.27 2.52 3.26 ICICI Lombard General Insurance 19.19 4.31 6.94 7.24 ICICI Prudential Asset Management1 20.50 5.46 6.94 6.32 ICICI Securities (Consolidated)1 16.97
Slide 37: Insurance entities
Insurance entities ICICI Prudential Life Insurance • Annualised premium equivalent (APE) grew by 27.2% to ₹ 69.05 billion in 9M- 2025 from ₹ 54.30 billion in 9M-2024 • Value of new business (VNB) grew by 8.5% to ₹ 15.75 billion in 9M-2025 from ₹ 14.51 billion in 9M-2024 • New business sum assured gr
Slide 38: ICICI Securities and ICICI AMC
ICICI Securities and ICICI AMC ICICI Securities • Total assets1 grew by 18.6% y-o-y to ₹ 8.23 trillion in Q3-2025 • Market share in MTF2 of about 18.9% at December 31, 2024 ICICI AMC • AAUM3 grew by 42.2% y-o-y to ₹ 8,739.58 billion in Q3-2025 • Market leader in equity and hybrid AUM with market sha
Slide 39: Environmental, Social and Governance (ESG) initiatives
Environmental, Social and Governance (ESG) initiatives 39
Slide 40: ESG @ ICICI Bank
ESG @ ICICI Bank Social Governance Environment Being responsible & Striving to create enhanced Promoting sustainability transparent value for stakeholders • Pursuing goal to become carbon • Credit facilities extended to • Committed to principles of Board neutral in Scope 1 and 2 2,30,653 women throu
Slide 41: Thank you
PICICI Bank Thank you
Slide 42: Additional financial information
Additional financial information 42
Slide 43: Yield, cost and margin
Yield, cost and margin Movement in yield, costs & FY2024 Q3-2024 9M-2024 Q2-2025 Q3-2025 9M-2025 margins (Percent)1 Yield on total interest-earning 8.71 8.71 8.69 8.63 8.62 8.65 assets2 - Yield on advances 9.83 9.79 9.82 9.73 9.65 9.72 Cost of funds 4.86 4.96 4.79 5.09 5.09 5.08 - Cost of deposits 4
Slide 44: Consolidated profit & loss statement (1/2)
Consolidated profit & loss statement (1/2) Q3- 9M- Q2- Q3- 9M- Q3-o-Q3 (₹ billion) FY2024 2024 2024 2025 2025 2025 growth Net interest income 854.08 214.57 632.25 241.00 244.04 719.64 13.7% Non-interest income 765.22 186.14 519.46 266.17 275.89 768.95 48.2% - Fee income 274.92 70.64 201.48 80.80 82.
Slide 45: Consolidated profit & loss statement (2/2)
Consolidated profit & loss statement (2/2) (₹ billion) Q3- 9M- Q2- Q3- 9M- Q3-o-Q3 FY2024 2024 2024 2025 2025 2025 growth Operating profit 641.47 161.62 472.95 198.78 197.51 577.07 22.2% Contingency - - - - - - - provisions Other provisions 37.13 10.20 30.14 13.82 12.68 39.65 24.3% Profit before tax
Slide 46: Key ratios (consolidated)
Key ratios (consolidated) Percent Q3- 9M- Q2- Q3- 9M- FY2024 2024 2024 2025 2025 2025 Return on equity1 18.9 18.5 18.9 18.6 17.8 18.1 Weighted average EPS1 (₹) 63.2 62.7 62.0 73.6 73.0 71.1 Book value (₹) 361 347 347 393 410 410 slide 9 1. Annualised for all interim periods 46
Slide 47: Balance sheet: liabilities
Balance sheet: liabilities (₹ billion) Dec 31, 2023 Sep 30, 2024 Dec 31, 2024 Net worth 2,268.37 2,595.40 2,716.43 - Equity capital 14.03 14.09 14.12 - Reserves 2,254.34 2,581.31 2,702.31 Deposits 13,323.15 14,977.61 15,203.09 - Current 1,534.11 1,830.90 1,904.38 - Savings 3,745.84 4,256.33 4,251.48
Slide 48: Composition of borrowings
Composition of borrowings (₹ billion) Dec 31, 2023 Sep 30, 2024 Dec 31, 2024 Domestic 947.38 985.70 1,027.10 - Capital instruments 28.38 28.71 28.84 - Other borrowings 919.00 957.00 998.26 - Long term infrastructure bonds 460.18 440.30 440.30 - Refinance 387.12 390.96 415.66 Overseas borrowings1 321
Slide 49: Consolidated balance sheet
Consolidated balance sheet (₹ billion) Dec 31, 2023 Sep 30, 2024 Dec 31, 2024 Cash & bank balances 1,214.49 1,643.85 1,725.12 Investments 7,548.65 8,747.60 8,494.17 Advances 12,291.98 13,600.46 13,972.65 Fixed & other assets 1,025.06 1,173.21 1,122.94 Total assets 22,080.18 25,165.12 25,314.88 Net w
Slide 50: Branch and ATM network
Branch and ATM network Branches % share Mar 31, Mar 31, Mar 31, Mar 31, Jun 30, Sep 30, Dec 31, at Dec 31, 2021 2022 2023 2024 2024 2024 2024 2024 Metro 1,542 1,567 1,709 1,907 1,937 1,955 1,994 29.6% Urban 1,063 1,074 1,160 1,310 1,326 1,333 1,369 20.3% Semi urban 1,537 1,599 1,712 1,838 1,846 1,83
Slide 51: Balance sheet: assets
Balance sheet: assets (₹ billion) Dec 31, 2023 Sep 30, 2024 Dec 31, 2024 Cash & bank balances 993.28 1,367.99 1,434.15 Investments 4,366.50 4,790.98 4,719.78 - SLR investments 3,683.42 3,916.77 3,853.39 - Equity investment in subsidiaries 69.78 121.41 121.41 Advances 11,537.71 12,772.40 13,143.66 Fi
Slide 52: Equity investment in subsidiaries
Equity investment in subsidiaries (₹ billion) Dec 31, Sep 30, Dec 31, 2023 2024 2024 ICICI Prudential Life Insurance 32.75 32.75 32.75 ICICI Lombard General Insurance - 46.50 46.50 ICICI Bank Canada 9.96 9.96 9.96 ICICI Bank UK 9.70 9.70 9.70 ICICI Home Finance 13.62 18.62 18.62 ICICI Securities Lim
Slide 53: Portfolio composition
Portfolio composition Dec 31, 2023 Sep 30, 2024 Dec 31, 2024 Domestic 93.4% 94.5% 95.0% International 6.6% 5.5% 5.0% Total consolidated advances 12,292 13,600 13,973 (₹ billion) slide 14 53
Slide 54: Retail and rural NPAs
Retail and rural NPAs Dec 31, Jun 30, Sep 30, Dec 31, ₹ in billion 2023 2024 2024 2024 Gross retail and rural NPAs 114.56 127.87 127.39 133.52 - as a % of gross advances 1.60% 1.68% 1.63% 1.69% Net retail and rural NPAs 39.11 43.32 43.42 45.29 - as a % of net advances 0.55% 0.58% 0.56% 0.58% slide 1
Slide 55: Sector-wise exposures
Sector-wise exposures Top 10 sectors1,2: % of total Mar 31, Mar 31, Mar 31, Mar 31, Jun 30, Sep 30, Dec 31, exposure of the Bank 2021 2022 2023 2024 2024 2024 2024 Retail finance3 29.8% 35.9% 37.9% 39.1% 38.8% 38.6% 37.9% Services – finance 10.2% 9.1% 8.9% 8.1% 8.4% 8.3% 7.9% Wholesale/retail trade
Slide 56: Consolidated capital adequacy
Consolidated capital adequacy Basel III (%) Sep 30, Dec 31, 20241 20242 Total capital 15.12% 14.52% - Tier I 14.44% 13.87% - of which: CET 1 14.44% 13.87% - Tier II 0.68% 0.65% • Including profits for 9M-2025, CET 1 ratio was 15.70%, Tier I ratio was 15.70% and total capital adequacy ratio was 16.36
Slide 57: Insurance entities
Insurance entities ICICI Life (₹ billion) FY2024 Q3-2024 Q2-2025 Q3-2025 Annualised premium equivalent 90.46 19.07 25.04 24.38 - Of which: protection 15.25 3.58 4.21 3.90 Assets under management 2,941.40 2,866.76 3,204.91 3,104.14 Expense ratio1 24.0% 23.9% 27.1% 24.9% ICICI General (₹ billion) FY20
Slide 58: ICICI Bank UK
ICICI Bank UK (USD million) FY2024 Q3-2024 9M-2024 Q2-2025 Q3-2025 9M-2025 Net interest income 66.7 16.7 50.6 16.3 16.6 49.1 Operating profit 38.2 10.0 29.1 10.5 8.1 27.7 Loans and advances 1,047.3 1,070.3 1,070.3 1,228.4 1,108.7 1,108.7 Deposits 1,668.6 1,834.3 1,834.3 1,752.8 1,716.5 1,716.5 - Ret
Slide 59: ICICI Bank UK asset and liability profile
ICICI Bank UK1 Asset profile Liability profile 2 3 Total assets: USD 2.25 bn Total liabilities: USD 2.25 bn 1. At Dec 31, 2024 2. Includes cash & advances to banks and T Bills 3. Includes Interbank lending of more than 3 months 59
Slide 60: ICICI Bank Canada
ICICI Bank Canada (CAD million) FY2024 Q3-2024 9M-2024 Q2-2025 Q3-2025 9M-2025 Net interest income 119.6 30.2 88.3 29.8 28.1 89.1 Operating profit 98.4 24.4 73.6 25.9 26.5 79.6 Loans and advances 5,248.1 5,299.0 5,299.0 4,862.7 4,724.0 4,724.0 - Residential mortgages 3,607.7 3,692.8 3,692.8 3,203.0
Slide 61: ICICI Bank Canada asset and liability profile
ICICI Bank Canada1 Asset profile Liability profile 2 4 3 Total assets: CAD 5.44 bn Total liabilities: CAD 5.44 bn 1. At Dec 31, 2024 2. Includes government securities and cash & placements with banks 3. Insured mortgages include CAD 1,803.7 million of securitised mortgages at Dec 31, 2024 (Sep 30, 2
Slide 62: ICICI Home Finance
ICICI Home Finance1 (₹ billion) Sep 30, 2024 Dec 31, 2024 Loans and advances 253.74 272.80 Gross impaired loans (stage 3) 4.11 4.31 Net impaired loans (stage 3) 2.58 2.76 Capital adequacy ratio 21.0% 20.1% slide 36 1. As per Ind AS 62