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ICICI Bank Q3: Total deposits grew by 22 per cent year-on-year to Rs 874,348 crore, the bank said
ICICI Bank Limited reported a 19 per cent growth in net profit to Rs 4,940 crore for the October-December quarter in the current financial year, as compared to Rs 4,146 crore in the year-ago period. The private sector lender reported growth in domestic and retail loans amid strong credit demand in the third quarter.
ICICI Bank Q3 Results: Here’s All You Need To Know
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ICICI Bank’s core operating profit – the profit before provisions and taxes, grew by 15 per cent year-on-year to Rs 8,054 crore in the third quarter of the financial year. (Also Read:┬аICICI Bank July-September Profit Jumps Over Six Times To тВ╣ 4,251 Crore┬а)
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The private lender’s┬аnet interest income (NII) – or the difference between interest earned and interest paid, in the third quarter grew 16 per cent on year to Rs 9,912 crore
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The net interest margin, key measure profitability,┬аwas 3.67 per cent┬аin the December quarter as┬аcompared to 3.57 per cent┬аin the second quarter of the financial year
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The net non-performing asset (NPA) ratio was 0.63 per cent┬аin the October-December quarter. The bank said that, not accounting for the Supreme Court’s order on recognition of bad loans,┬аthe net NPA ratio would have been at 1.26 per cent, instead of 1.12 per cent in the previous quarter of the financial year
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ICICI Bank said that by the end of the third quarter, it held COVID-19 related provisions worth Rs 9,984 crore, including contingency provision for proforma NPAs amounting to Rs 3,509 crore, amid the Supreme Court’s interim order.
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