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In the July-September quarter of the current financial year, private sector ICICI Bank’s standalone net profit rose 36 percent to Rs. 10,261 crores. Disclosing this to the stock markets on Saturday, the bank said its net profit was Rs 7,558 crore in the same quarter a year ago. The bank’s shares closed at Rs 932.45 on Friday.
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In the September quarter, the total income of the bank increased to Rs. 40,697 crore which was Rs. 31,088 crores. In the last quarter, the bank’s interest income increased to Rs. 34,920 crore which in the same period last year was Rs. 26,033 crores.
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Its net interest income also grew by 24 percent year-on-year to Rs. 18,308 crores. In the same period a year ago, it was Rs. 14,787 crores. During the period under review, the Bank’s net interest margin increased to Rs. 4.53 crore as compared to 4.31 per cent in September quarter last year.
The asset quality of the bank has also improved. Its non-performing assets (NPAs) fell to 2.48 per cent of total loans in the last quarter. It was 2.76 percent in the same period a year ago. Similarly, Net NPA ie Bad Loans decreased to 0.43 percent as compared to 0.61 percent last year. On a consolidated basis, ICICI Bank’s net profit rose 36 percent to Rs. 10,896 crore as against Rs. 8,007 crores.