ICICI Bank Q3 net jumps 30% to Rs 2,250 crore

ICICI Bank Q3 net jumps 30% to Rs 2,250 crore Mumbai: Largest private sector lender ICICI Bank on Thursday reported a 30 percent jump in standalone net profit at Rs 2,250 crore in the December quarter against Rs 1,728 crore a year ago.

The consolidated net rose 22 percent year-on-year to Rs 2,645 crore from Rs 2,174 crore, the bank said in an exchange filing to the BSE.

The reporting quarter saw the city-based lender improving its net interest margin by 37 basis points to 3.07 percent.

Advances rose 16 percent to Rs 2,86,766 crore, led by a 17 percent spike in retail advances to Rs 96,528 crore. Net interest income rose 29 percent to Rs 3,499 crore from Rs 2,712 crore.

The net non-performing asset ratio improved to 0.64 percent from 0.70 percent a year ago. Sequentially too, it improved a bit from 0.66 percent.

Capital adequacy ratio stood at 19.53 percent with the tier-1 capital adequacy being at 13.25 percent.

PTI