ICICI Bank's Profits Soar: A 15.9% Jump in the June Quarter
ICICI Bank reported a significant 15.9% rise in consolidated net profit, reaching Rs 13,558 crore in the June quarter. Despite a narrowing net interest margin, core net interest income rose by 10.6%. The bank's gross non-performing assets ratio improved markedly, highlighting robust financial health.
- Country:
- India
On Saturday, ICICI Bank announced a substantial 15.9% increase in its consolidated net profit, totaling Rs 13,558 crore for the June quarter of this fiscal year.
This growth is up from Rs 11,696 crore in the same period last year. On a standalone basis, the second-largest private sector lender in India reported a net profit of Rs 12,768 crore, a 15.5% rise from Rs 11,059 crore in the year-ago quarter.
Core net interest income saw a 10.6% uptick, reaching Rs 21,635 crore, while other income, excluding treasury operations, surged by 13.7% to Rs 7,264 crore. Despite a slight narrowing of the net interest margin to 4.34% from 4.41% the previous quarter, the bank experienced improved financial stability, as reflected by the gross non-performing assets ratio improving to 1.67% from 2.15% over the same period last year.
(With inputs from agencies.)
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