The bank's operating profit grew by 18 per cent to Rs 91.24 crore against Rs 77.58 crore during the three-quarter period ended December 31, 1997.

The fall in net profit was largely on account of higher provisioning for contingencies at Rs 25.49 crore against Rs 15.33 crore during the year-ago period, indicating a 65 per cent increase. The new private bank has estimated provision for non-performing assets for the whole year and provided for more than 75 per cent of the NPAs.

ICICI Bank's total income during the three-quarter period rose 90 per cent to Rs 444.40 crore against Rs 234.76 crore during the corresponding period in the previous year. Ofthis, interest income stood at Rs 377.73 crore against Rs 166.64 crore in the year-ago period, a growth of nearly 130 per cent.

The bank's interest income rose on account of a surge in advances. Total advances during the three-quarter period ended December 31, 1998 nearly doubled to Rs 1,668.15 crore from Rs 903.41 crore during the corresponding period in the previous year. Investments of the bank in debt instruments of public sector units and other corporates increased nearly four-fold to Rs 1,012 crore from Rs 255 crore in the year-agor period.

ICICI Bank's total expenditure during the said period shot up by 130 per cent to Rs 340.53 crore against Rs 147.06 crore. Total deposits of the bank during the three-quarter period were at Rs 4,642.32 crore against Rs 2,450.22 crore, indicating a nearly two-fold rise.

The growth in deposits of ICICI Bank during the first nine months of the current financial year constituted 2.8 per cent of the banking industry's growth during the same period, said a releaseissued by the bank on Friday. Likewise, its share in incremental growth of advances represented 3.8 per cent of the industry's aggregate growth during the corresponding period.