Q3 2020 ICICI Bank Ltd Earnings Call Transcript
Good afternoon to all of you, and welcome to the ICICI Bank earnings call to discuss the Q3 2020 results. Joining us today on this call are Vishakha, Anup, Sandeep Batra, Rakesh and Anindya.
Our core operating profit increased by 23.8% year-on-year to INR 70.7 billion in Q3 of 2020. The profit after tax was INR 41.46 billion in the current quarter compared to INR 16.05 billion in Q3 of 2019.
We continue to see healthy growth in our funding. As we had indicated earlier, the growth in term deposits has outpaced the growth in CASA deposits, reflecting the systemic trends. Term deposits grew by 23.6% year-on-year to INR 3.8 trillion at December 31, 2019, while average CASA deposits increased by 14.6% year-on-year in this quarter.
On the assets side, the domestic group -- book grew by 16.5% year-on-year at December 31, 2019, driven by retail loans, which grew by 19.3% year-on-year. The overall loan growth was 12.6% year-on-year.
Expanding our digital capabilities and leveraging partnerships are key
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