0

0

0

0

0

0

0

0

0

This article is more than 1 year old.

ICICI Bank Q2 net profit at Rs 4,251.33 crore, beats estimates

Mini

The country's second-largest private sector lender ICICI Bank on Saturday reported a net profit of Rs 4,251.33 crore for the quarter ended September 30, 2020.

ICICI Bank Q2 net profit at Rs 4,251.33 crore, beats estimates
The country's second-largest private sector lender ICICI Bank on Saturday reported a net profit of Rs 4,251.33 crore for the quarter ended September 30, 2020.
In the corresponding quarter last year, the bank posted a net profit of Rs 1,131.20 crore. CNBC-TV18 Polls had predicted a profit of Rs 3,142 crore for the quarter under review.
Total income (standalone) in July-September 2020 stood at Rs 23,650.77 crore, up from Rs 22,759.52 crore in the same period a year earlier, ICICI Bank said in a regulatory filing.
Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 16 percent year-on-year (YoY) to Rs 9,366 crore. The net interest margin stood at 3.57 percent in Q2.
Fee income increased sequentially by 49 percent in Q2-2021 over Q1-2021 reflecting the increase in customer spending, borrowing, and investment activity. Retail fees constituted 76 percent of total fees in Q2-2021.
Net non-performing asset (NPA) ratio decreased from 1.23 percent on June 30, 2020, to 1.00 percent on September 30, 2020; including loans not classified as NPA pursuant to the Supreme Court’s interim order, net NPA ratio would have been 1.12 percent, the bank said.
The lender said total deposits grew by 20 percent year-on-year to Rs 832,936 crore on September 30, 2020. 17 percent growth in average current and savings account (CASA) deposits in Q2-2021. The average CASA ratio was 40.3 percent in Q2-2021.
The provision coverage ratio increased from 78.6 percent on June 30, 2020, to 81.5 percent on September 30, 2020. Additionally, the bank held COVID-19 related provisions of Rs 8,772 crore on September 30, 2020.
Total capital adequacy ratio of 19.33 percent and Tier-1 capital adequacy ratio of 17.89 percent on a standalone basis at September 30, 2020 (including profits for the six months ended September 30, 2020).
next story