Private sector lender ICICI Bank has presented excellent quarterly results. There has been a tremendous jump in the profits of ICICI Bank. The bank reported a net profit of Rs 4,251 crore in the second quarter ended September 30, compared to a net profit of only Rs 654.96 crore in the same period last year.
ICICI Bank presented excellent results
In fact, ICICI Bank’s net profit grew more than 6 times in the quarter ended September 30 on a single basis with Rs 4,251 crore. ICICI Bank has earned such a big profit due to the sale of investment and increase in net interest income. Also, the asset asset of the bank has also improved. In addition, the NPA has improved.
Net income from bank interest grew by 16 per cent to Rs 9,366 crore in the quarter under review. However, the bank’s net interest margin declined by 0.10 per cent to 3.57 per cent during this period. While the growth in credit disbursement of the bank was almost half of its 6 percent deposit growth.
If we talk about income, then the consolidated income of the bank during the review period was Rs 39,321.42 crore, compared to Rs 37,424.78 crore in the same period last year. ICICI Bank’s fiscal income increased to Rs 542 crore in the September quarter from Rs 341 crore in the same period last year.
The bank’s gross NPA stood at Rs. 38,989.19 crore, or 5.17 percent of the gross loan during this period. In the same period of the last financial year, it was 5.37 percent i.e. Rs 45,638.79 crore. The net NPA of the bank stood at Rs 7,187.51 crore, one per cent of its net loan during the review period. In the same period last year, it was 1.60 percent i.e. Rs 10,916.40 crore.