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ICICI Bank Ltd. reported strong performance on the business front, with loan growth showing robust trends across retail, small and medium enterprise, and corporate portfolio.
Core operating performance remains robust even as muted fee income trends and treasury loss resulted in a profit after tax miss.
On the asset quality front, controlled slippages of Rs 55 billion and healthy recoveries and upgrades resulted in QoQ improvement in gross non-performing asset/net-non performing asset ratio to 4.96%/1.14% (versus pro forma GNPA/NNPA ratio of 5.42%/1.26%).
The provision coverage ratio stood ~78%, the highest in the industry.
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