ICICI Bank’s profit grew 18.8% in the third quarter, earnings also jumped
Private sector ICICI Bank said on Saturday that its consolidated net profit grew by 18.8 per cent to Rs 6536.55 crore for the quarter ended December 2021.
ICICI Bank
Private sector ICICI Bank said on Saturday that its consolidated net profit grew by 18.8 per cent to Rs 6536.55 crore for the quarter ended December 2021. During this period, the net interest income (NII) of the bank has jumped 23 per cent to Rs 12,236 crore as against Rs 9,912 crore in the same quarter last year. The bank has given the figures for the third quarter of the current financial year in the information given to the stock exchanges.
According to this, it had registered a consolidated net profit of Rs 5,498.15 crore in the period October-December 2020 a year ago. According to ICICI Bank, its profit after tax (PAT) has increased by 25 per cent to Rs 6,194 crore during the October-December 2021 quarter on a standalone basis. It was Rs 4,939.59 crore in October-December 2020.
Bank’s NPA also improved
The bank said that in the December quarter, its Net NPO ratio came down to 0.85 percent. This is the lowest since March 31, 2014. It was 0.99 per cent in the previous quarter. During this period, the share of retail, business banking and SME customer fees in its total fees was about 76 percent.
The bank said that its total deposits have crossed the Rs 10 lakh crore mark at the end of the period. The total deposits of the bank increased by 16 per cent year-on-year to Rs 10,17,467 crore. The average CASA ratio of the bank in the recently ended quarter has been 45 percent. ICICI Bank’s non-interest income grew 25 per cent year-on-year to Rs 4,899 crore from Rs 3,921 crore earlier. Fee income has increased by 19 per cent year-on-year to Rs 4,291 crore. Last time it stood at Rs 3,601 crore on an annual basis.
Transactions through UPI increased
The bank further said that the value of transactions with it through Unified Payments Interface (UPI) has been 2.2 times the value of transactions in the year-ago quarter. And this is 34 percent more than the previous quarter.
Apart from this, Yes Bank said on Saturday that its net profit for the December quarter grew 77 percent year-on-year to Rs 266 crore. The bank had a profit of Rs 151 crore in the same quarter last year. Experts were expecting the bank to make losses in the quarter. The bank’s provisions for the quarter declined 82.1 per cent year-on-year to Rs 375 crore. It stood at Rs 2,089 crore in the year-ago quarter.
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