ICICI Bank Q1 Net Rises 12% to Rs 2,976 cr; Scrip Jumps 6%

Private sector lender ICICI Bank reported a 12.08 % growth in net profit at Rs 2,976.16 crore for the June quarter

Published31 Jul 2015, 08:10 AM IST
Business
1 min read

Private sector lender ICICI Bank on Friday reported a 12.08 per cent growth in net profit at Rs 2,976.16 crore for the June quarter of current fiscal.

The bank had a standalone net profit of Rs 2,655.30 crore in the corresponding quarter of last fiscal.

The gross non-performing assets (NPAs) as a percentage of total advances of the bank rose to 3.68 per cent during the quarter under review from 3.05 per cent in the same quarter last fiscal
– ICICI Bank said in a filing to BSE.

However, the asset quality has improved compared with January-March quarter when the Gross NPA was 3.78 per cent.

Total income of the bank rose to Rs 15,802.45 crore in the first quarter of 2015-16, from Rs 14,616.71 crore in the three month period of last fiscal.

On a consolidated basis, ICICI Bank registered a 14 per cent increase in profit after tax to Rs 3,232 crore for the quarter ended June 30, from Rs 2,832 crore for the quarter ended June 30, 2014.

During the quarter, the bank saw 14 per cent year-on-year growth in savings account deposits, and 25 per cent growth in retail advances.

Net interest margin during the quarter improved to 3.54 per cent from 3.40 per cent in the first quarter of last fiscal.

The bank made a provisioning of Rs 956 crore in first quarter of current fiscal compared with Rs 726 crore in Q1 of last fiscal.

Post result, shares of ICICI Bank were trading at Rs 308.90, up 6.16 per cent on BSE.

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