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ICICI Bank Q2 net profit rises 20% to Rs 2,390 cr

India's largest private sector bank ICICI on Friday reported 20 per cent rise in consolidated net profit at Rs 2,390.37 crore for the second quarter ended September 30. The bank's net profit in the same period last fiscal was Rs 1,991.68 crore.

The total income in the July-September period of the current fiscal increased to Rs 18,609.43 crore, from Rs 16,110.61 crore in the second quarter of 2011-12, ICICI Bank said in a filing to the Bombay Stock Exchange (BSE). On standalone basis, the net income of ICICI Bank was 1,956.11 crore during the quarter, an increase of 30.13 per cent from Rs 1,503.19 crore in Q2 last fiscal.

The total income during the period under review was Rs 12,069.30 crore as against Rs 9,897.17 crore.

The ICICI scrip was up 0.25 per cent at Rs 1,088.90 on the BSE.

The net non-performing asset (NPA) ratio of ICICI Bank declined to 0.66 per cent in the latest September quarter to the year ago period.

The private banking major reported a healthy 15 per cent growth in saving accounts deposit to Rs 80,618 crore at the end of September 2012.

'The bank has continued with its strategy of pursuing profitable growth. The bank has grown its retail lending volumes resulting in a improvement in retail loan portfolio growth,' ICICI said.Advances rose by 18 per cent to 275,076 crore during the period under review. In the comparable quarter, they stood at 233,952 crore.'The year-on-year growth in retail advances was 14 per cent at the end of September 2012 compared to a year-on-year growth of 10.3 per cent at end of June 2012,' the bank noted.   
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