ICICI Bank Q1 net up 25% as NII soars 20%
2 Aug 2013 4:24 AM IST
Private sector ICICI Bank on Wednesday reported 25 per cent growth in standalone net profit at Rs 2,274.21 crore for the first quarter ended 30 June, driven by higher net interest income (NII).
The country's largest private sector bank's standalone net profit stood at Rs 1,815.05 crore in the April-June quarter of 2012-13 fiscal.
While net interest income (NII) of the bank rose 20 per cent to Rs 3,820 crore during the June quarter of the current fiscal, total income increased by 13 per cent to Rs 12,905 crore. The net non-performing assets of the bank increased to 0.69 per cent at the end of first quarter compared to 0.64 per cent in the same period a year ago.
Provisioning against bad loans during the quarter also rose to Rs 593 crore, as against Rs 466 crore in the year-ago period. However, net interest margin improved to 3.27 per cent at the end of first quarter, as compared to 3.01 per cent in the year ago period.
The country's largest private sector bank's standalone net profit stood at Rs 1,815.05 crore in the April-June quarter of 2012-13 fiscal.
While net interest income (NII) of the bank rose 20 per cent to Rs 3,820 crore during the June quarter of the current fiscal, total income increased by 13 per cent to Rs 12,905 crore. The net non-performing assets of the bank increased to 0.69 per cent at the end of first quarter compared to 0.64 per cent in the same period a year ago.
Provisioning against bad loans during the quarter also rose to Rs 593 crore, as against Rs 466 crore in the year-ago period. However, net interest margin improved to 3.27 per cent at the end of first quarter, as compared to 3.01 per cent in the year ago period.
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