There were net contributions of ₹382 crore to gross NPAs during the first quarter of the current fiscal year, as opposed to net withdrawals of ₹489 crore in the fourth quarter of 2021–22 and net inflows of ₹3,604 crore in the first quarter of 2021–22. In Q1 2022–23, gross NPA inflows were ₹5,825 crore compared to ₹4,204 crore in Q4 2021–22. In Q1 FY23, NPA recoveries and upgrades were ₹5,443 crore, up from ₹4,693 crore in Q4 of 2021–22, excluding write-offs and sales. According to ICICI Bank's regulatory filing, the gross NPAs written off in the first quarter of FY23 was ₹1,126 crore, and the provisioning coverage ratio for NPAs was 79.6%.
“Excluding NPAs, the total fund based outstanding to all borrowers under resolution as per the various extant regulations/guidelines declined to ₹7,376 crore (US$ 934 billion) or 0.8% of total advances at June 30, 2022 from ₹8,267 crore (US$ 1.0 billion) at March 31, 2022. The Bank holds provisions amounting to ₹2,290 crore (US$ 290 million) against these borrowers under resolution, as of June 30, 2022. In addition, the Bank held contingency provisions of ₹8,500 crore (US$ 1.1 billion) at June 30, 2022. The loan and non-fund based outstanding to performing borrowers rated BB and below reduced to ₹8,209 crore (US$ 1.0 billion) at June 30, 2022 from ₹10,808 crore (US$ 1.4 billion) at March 31, 2022," ICICI Bank said in a regulatory filing.
Core operating profit, defined as profit before provisions and taxes excluding treasury income, increased by 19% year-over-year to Rs. 10,273 crore in Q1-2023 from Rs. 8,605 crore in the quarter ended June 30, 2021. Core operating profit increased by 21% year-over-year excluding dividend income from subsidiaries/associates, said ICICI Bank. Net interest income (NII) for the bank climbed by 21% year over year, from Rs. 10,936 crore in Q1 2022 to Rs. 13,210 crore in Q1 2023. In Q1-2023, the net interest margin was 4.01 per cent, up from 3.89% in the same quarter of previous year. The bank's Non-interest income, excluding treasury income, increased by 25% year-on-year to ₹4,629 crore in Q1-2023 from ₹3,706 crore in Q1-2022.
On a standalone basis, the profit after tax increased by 50% year over year to ₹6,905 crore in Q1-2023 from ₹4,616 crore in Q1-2022. The profit before tax increased by 52% year over year to ₹9,165 crore in Q1-2023 from ₹6,043 crore in Q1-2022. Consolidated assets increased from ₹1,536,731 crore in the same quarter of last year to ₹1,742,777 crore on June 30, 2022, an increase of 13% year over year.
