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%|
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.