ICICI Bank on Saturday reported its net profit at Rs. 10,707 cr. In the fourth quarter ending on March 31.
It was a 17% increase in the net profit from Rs. 9,122 Cr. in the same period a year earlier.
On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs. 10,708 Cr. for the reporting quarter against Rs. 9,122 Cr. in the year ago period. The crore net interest income increased 8.1 per cent to Rs. 19,093 Cr. on a 16.8 per cent growth in loans and a marginal compression in net interest margin to 4.40 per cent.
The State-owned Indian Bank has reported a net profit of Rs. 1,709 Cr. in the March quarter against a loss of Rs. 2,178 Cr. in the year ago period. The net interest margin (NIM) is a profitable parameter, rose 12 points year on year to 2.85%.
The provision is more than halved to Rs. 718 Cr. for the reporting quarter, as per the exchange is filled by the lender, PTI reported. Earlier, another private lender Yes Bank also posted its fourth quarter results, which reported the standalone net profit rose to Rs. 452 Cr.
Most Indian banks have been shoring up their deposit base amid tightened liquidity conditions in the banking systems and health demands on loans. That was weighed on their lending margins. Also, the non-interest income, excluding the performance of the treasury, came at Rs. 5,930 Cr., 15.7 per cent higher than a year ago period.
The provision is more than halved to Rs. 718 Cr. for the reporting quarter, as per the exchange is filling by the lender.
