Net interest margin during the quarter stood at 4.01% compared to 3.89% in Q1FY22 and 4% in the quarter ended March 31, 2022 (Q4-2022).
Further, in Q1FY23, provisions (excluding provision for tax) declined by 60% yoy to ₹1,144 crore from ₹2,852 crore in Q1FY22, Provisions for in Q1 of FY23 also include a contingency provision of ₹1,050 crore made on a prudent basis.
In terms of asset quality, the gross NPA ratio declined to 3.41% as of June 30, 2022, from 3.60% as of March 31, 2022, and 5.15% as of June 30, 2021. The net NPA ratio declined to 0.70% in Q1FY23 from 0.76% in Q4FY22 and 1.16% in Q1FY22.
During the quarter, the gross NPAs written-off in Q1FY23 was at ₹1,126 crore. The provisioning coverage ratio on NPAs was 79.6% as of June 30, 2022.
As of June 30, 2022, total deposits increased by 13% yoy to ₹1,050,349 crore. Average current account deposits increased by 23% year-on-year and 3% sequentially in Q1-2023. Average savings account deposits increased by 19% year-on-year and 4% sequentially in Q1FY23.
In terms of the lending book, ICICI Bank's retail loan portfolio grew by 24% year-on-year and 5% sequentially --- and comprised 53.1% of the total loan portfolio as of June 30, 2022. Total advances were up by 21% yoy and 4% qoq to ₹895,625 crore as of June 30, 2022.
Notably, the value of the Bank’s merchant acquiring transactions through UPI in Q1FY23 grew by 27% over Q4FY22 and was 2.3 times the value of transactions in Q1FY22. The Bank is the market leader in electronic toll collections through FASTag. The Bank had a market share of about 32% by value in electronic toll collections through FASTag in Q1FY23, with a 53% year-on-year growth in collections.
The Bank had a network of 5,534 branches and 13,379 ATMs as of June 30, 2022.
On BSE, ICICI Bank shares are at ₹800 apiece up by 1.74%.
