ICICI Bank declared its Q1FY21 results on 25th July 2020. The bank declared a Total revenue of Rs. 37939.3 Crores as compared to Rs.40121.5 Crores in Q4FY21, which is a reduction of 5.44%(QoQ) but an increased revenue on a YoY basis of almost 12.02%.

Q1 FY21Rs. Cr.Q4 FY20Rs.  Cr.Q1 FY20Rs.   Cr.QoQ%YoY%
Revenue 37939.340121.533,868.9-5.44%12.02%
Net Profit3,586.91,613.22,913.4122.3%23.12%

The ICICI bank declared a net profit of Rs. 3589.9 Crore which is almost twice the net profit (QoQ) than last year Q4FY21 along with a 23.12% increase in net profit YoY%.Net non-performing asset (NPA) ratio decreased from 1.41% at March 31, 2020, to 1.23% at June 30, 2020.

Total period-end deposits crossed Rs 8 lakh crore, total deposits were Rs 801,622 crore (US$ 106.2 billion) at June 30, 2020, 15% growth in average current and savings account (CASA) deposits in Q1-2021; average CASA ratio was 41.0% in Q1- 2021  Term deposits grew by 27% year-on-year at June 30, 2020. Provisions (excluding Covid-19 related provisions and provision for tax) declined by 42% year-on-year

The shares of ICICI rallied almost by 10% from 353.20 to 392.95 in about a week from the Q1 results. The positive results of ICICI can be attributed to the moratoriums and relief measures announced by the government to stimulate the economy.

You can read the official results by clicking here

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