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ICICI Bank conducted a concall on 26 October 2024 to discuss the financial results for the quarter ended September 2024 and prospects of the bank. Sandeep Bakhshi, MD&CEO of the bank addressed the call:
Highlights:
The Indian economy remains resilient based on its long-term growth drivers and the actions and initiatives of the policymakers.
Banks strategic focus continues to be on growing profit before tax excluding treasury through the 360-degree customer centric approach and by serving opportunities across ecosystems and micromarkets.
Deposits grew by 15.7% yoy and 5.0% sequentially at end September 2024. Bank’s average liquidity coverage ratio for the quarter was about 120%.
The domestic loan portfolio grew by 15.7% yoy and 4.6% sequentially at end September 2024.
The retail loan portfolio grew by 14.2% yoy and 2.9% sequentially.
The rural portfolio grew by 16.5% yoy and 1.7% sequentially.
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