1. ICICI Bank reports 12% rise in Q2 profit at Rs 3,419 cr

ICICI Bank reports 12% rise in Q2 profit at Rs 3,419 cr

India's largest private sector lender ICICI Bank today reported a 11.5 per cent jump in consolidated net profit at Rs 3,418.53 crore for the second quarter ended September 30.

By: | Updated: October 30, 2015 3:56 PM
ICICI Bank

ICICI Bank Q2 results: On a consolidated basis, the bank posted a net profit of Rs 3418.53 crore for the quarter ended September 30, 2015. (PTI)

ICICI Bank posted 11.85 per cent rise in its standalone net profit at Rs 3,030.11 crore for the quarter ended September 30, 2015 as compared to Rs 2,709.01 crore in the corresponding quarter a year ago. Total Income of the bank increased from Rs 14,888.95 crore for the quarter ended September 30, 2014 to Rs 16,106.22 crore for the quarter ended September 30, 2015.

On a consolidated basis, the group posted a net profit of Rs 3418.53 crore for the quarter ended September 30, 2015 as compared to Rs 3064.62 crore in the same quarter last year.

On standalone basis, the net profit of the bank rose by 11.9 per cent to Rs 3,030.11 crore, from Rs 2,709.01 crore in the year ago period.

Income (standalone) during the second quarter increased to Rs 16,106.22 crore compared with Rs 14,888.95 crore in the same quarter of 2014-15.

The bank’s net interest income increased 13 per cent to Rs 5,251 crore in the second quarter from Rs 4,657 crore a year ago.

Non-interest income increased by 10 per cent to Rs 3,007 crore during the quarter under review from Rs 2,738 crore.

On asset quality, bank’s bad loans rose a tad with gross non-performing assets (NPAs) standing at 3.77 per cent of gross advances as of September 30, as against 3.12 per cent in the year ago period.

Likewise, net NPAs were at 1.65 per cent of net advances compared with 1.09 per cent in the previous fiscal.

“Provisions were at Rs 942 crore in July-September of 2015-16 compared with Rs 850 crore in same period year ago,” it said.

Further, the bank said that its capital adequacy as of September 30 as per RBI guidelines on Basel III norms was 16.15 per cent and tier-I capital adequacy was 12.09 per cent, well above regulatory requirements.

ICICI Bank scrip was trading at Rs 273.40 on BSE during afternoon trade, up 0.72 per cent from previous close.

Tags: ICICI Bank
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