ICICI Bank Q4 Net Profit Rises 18.5% to Rs 11,672 Crore
Apr 27, 2024 16:24
ICICI Bank reported an 18.5% increase in its consolidated net profit for the March 2024 quarter, reaching Rs 11,672 crore. The bank's core net interest income also grew.
Mumbai, Apr 27 (PTI) Private sector lender ICICI Bank on Saturday said its March 2024 quarter consolidated net grew 18.5 per cent to Rs 11,672 crore.
It had reported a net profit of Rs 9,853 crore in the year-ago period.
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 crore for the reporting quarter against Rs 9,122 crore in the year-ago period.
The core net interest income increased 8.1 per cent to Rs 19,093 crore on a 16.8 per cent growth in loans and a marginal compression in net interest margin to 4.40 per cent.
The non-interest income, excluding the performance of the treasury, came at Rs 5,930 crore, 15.7 per cent higher than the year-ago period.
The provisions more than halved to Rs 718 crore for the reporting quarter, as per the exchange filing by the lender.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.