ICICI Bank reports first quarterly net loss of Rs120 crore in 16 years
Moneylife Digital Team 27 July 2018
ICICI Bank reported a net loss of Rs119.55 crore in the June quarter due to higher provisions for bad loans and treasury losses. The bank had reported a profit of Rs2,049 crore in the same quarter of the previous year. ICICI Bank's gross non-performing customer assets stood at Rs53,464.94 crore in Q1 compared to 43,147.64 crore in the same period last year.
The bank has made its first quarterly loss in the last 16 years.
The performance review of the bank for the quarter ended June 30, 2018 includes:
(a) The core operating profit (profit before provisions and tax, excluding treasury income) grew by 17% year-on-year to 
(b) 5,042 crore (US$ 736 million) in the quarter ended June 30, 2018 (Q1-2019)
(c) Net interest margin at 3.19% in Q1-2019
(d) Fee income grew by 16% year-on-year in Q1-2019 driven by retail fee income growth of 18% year-on-year
(e) Operating expenses grew by 9% year-on-year in Q1-2019
(f) Domestic loan growth at 15% year-on-year at June 30, 2018 driven by retail
(g) Retail loans grew by 20% year-on-year and constituted 58% of the total loan portfolio at June 30, 2018 compared to 47% at March 31, 2016
(h) 16% year-on-year growth in current and savings account (CASA) deposits; CASA ratio at 50.5% at June 30, 2018
(i)  Net NPA ratio decreased from 4.77% at March 31, 2018 to 4.19% at June 30, 2018
(j)   Recoveries of ` 2,036 crore (US$ 297 million) in Q1-2019 
(k)  560 basis points (bps) sequential increase in provision coverage ratio (including technical/prudential write-offs) to 66.1% at June 30, 2018, further strengthening the balance sheet
(l) Total capital adequacy ratio of 18.35% and Tier-1 capital adequacy ratio of 15.84% on standalone basis at June 30, 2018
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