ICICI Bank Q4 consolidated net jumps 27% to ₹9,852.7 cr
The Hindu
Private lender ICICI Bank on April 22 reported a 27.64% jump in consolidated net profit to ₹9,852.70 crore for the January-March quarter of 2022-23 compared to the year-ago period.
Private lender ICICI Bank on April 22 reported a 27.64% jump in consolidated net profit to ₹9,852.70 crore for the January-March quarter of 2022-23 compared to the year-ago period.
On a standalone basis, the largest private sector lender reported a nearly 30% jump in its net profit for the March quarter at ₹9,121.87 crore.
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Its total income moved up to ₹36,108.88 crore in the reporting quarter, as against ₹27,412.32 crore in the year-ago period, while the overall expenses moved up to ₹22,282.50 crore from ₹17,119.38 crore in the year-ago period.
The share of gross non-performing assets in the overall loans was 2.81% as of March 31, 2023, which is an improvement from 3.60% in the year-ago period and 3.07% in the quarter-ago period.
Also Read: ICICI Bank rolls out digital solutions for exporters
Its overall provisions increased to ₹1,619.80 crore from ₹1,068.95 crore in the year-ago period, but were down when compared with the December quarter's ₹2,257.44 crore.
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