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    ICICI Bank Q4 net profit jumps 260% to Rs 4,402.61 crore

    ICICI Bank Q4 net profit jumps 260% to Rs 4,402.61 crore

    ICICI Bank Q4 net profit jumps 260% to Rs 4,402.61 crore
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    By CNBC-TV18  IST (Updated)

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    The country's second-largest private sector lender ICICI Bank on Saturday reported a 260.5 percent year-on-year (YoY) jump in net profit at Rs 4,402.6 crore for the quarter ended March 31, 2021.

    The country's second-largest private sector lender ICICI Bank on Saturday reported a 260.5 percent year-on-year (YoY) jump in net profit at Rs 4,402.6 crore for the quarter ended March 31, 2021.
    The bank had posted a net profit of Rs 1,221.36 crore for the corresponding period of the previous fiscal, ICICI Bank said in a filing to BSE.
    Total income (standalone) of the bank rose to Rs 23,953 crore in January-March from Rs 23,443.66 crore in the year-ago quarter, ICICI Bank said in a regulatory filing. On a consolidated basis, the net profit of the private sector lender jumped to Rs 4,886 crore in the March quarter from Rs 1,251 crore in the last quarter of 2019-20.
    Income on a consolidated basis rose to Rs 43,621 crore from Rs 40,121 crore for the reported quarter. Gross non-performing assets (NPAs) or bad loans of the bank fell to 4.96 percent of the gross advances by the end of March 2021 as against 5.53 percent by March 31, 2020.
    Net NPAs too came down to 1.14 percent as against 1.41 percent. Provisions for bad loans and contingencies were cut to Rs 2,883.47 crore for the reported quarter, from Rs 5,967.44 crore parked aside in year-ago same quarter.
    The bank made additional COVID-19 related provisions of Rs 1,000 crore in Q4-2021 and held COVID-19 related provisions of Rs 7,475 crore on March 31, 2021. Total deposits grew by 21 percent year-on-year to Rs 932,522 crore on March 31, 2021.
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