There has been a six-fold jump in the net profit of ICICI Bank. In the second quarter ended September 30, ICICI Bank’s net profit reached Rs 4,251 crore, which is six times more than the previous quarter.
ICICI Bank registered a net profit of Rs 655 crore in the same quarter of 2019-20. The private sector bank informed the stock market on Saturday that its operating income on a single basis in the second quarter stood at Rs 23,650.77 crore. It was Rs 22,759.52 crore in the same quarter last year.
Similarly, the situation of bank’s collapsed debt (NPA) has also improved. The bank’s gross NPA stood at Rs 38,989.19 crore, or 5.17 percent of the total loans during this period. It was Rs 45,638.79 crore in the same period of the last financial year. The net NPA of the bank stood at Rs 7,187.51 crore, a percentage of its net loan during the review period. It was 1.60 percent i.e. Rs 10,916.40 crore in the same period last year.
On a consolidated basis, the bank’s net profit grew four-fold to Rs 4,882 crore in the review period. This was Rs 1,131 crore in the same period of the previous financial year. The consolidated income of the bank during this period was Rs 39,321.42 crore as against Rs 37,424.78 crore in the same period last year. The bank’s provision for stranded loans has been Rs 2,995.27 crore. This amount was Rs 2,506.87 crore in the same period last year. The bank has shown capital expenditure of Rs 8,772 crore on the provisions related to Kovid-19 in the quarter ended September 30.
(This news has not been edited by the NDTV team. It is published directly from the Syndicate feed.)