ICICI Bank posts all-time high quarterly net profit of Rs2,889 cr
30 January 2015
ICICI Bank, the country's largest private sector lender, has reported a net profit of Rs3,265.32 crore for the third quarter of the current financial year ended 31 December 2014, a 13.68 per cent increase from the Rs2,872.30 crore net profit recorded in the similar quarter of the previous financial year.
On a standalone basis, the bank's net profit rose 14.1 per cent year-on-year to Rs2,889.04 crore (also an all-time high), from Rs2,532.21 crore during the previous year period.
Standalone total income for the October-December 2014-15 period increased to Rs15,526.88 crore from Rs14,255.96 crore in the year-ago period, the bank said.
On a consolidated basis, total income for the quarter rose to Rs23,053.82 crore from Rs20,543.46 crore in the year-ago quarter.
ICICI Bank said its NPAs and contingencies were higher at Rs979.69 crore in the third quarter of 2014-15 compared with Rs694.64 crore in the same period last fiscal.
For the first nine months of 2014-15, ICICI Bank reported a 15.2 per cent increase in its standalone net profit to Rs8,253.36 crore from Rs7,158.47 crore in the similar quarter of the previous fiscal.
Total income for April-December 2014-15 stood at Rs45,032.54 crore against Rs40,140.68 crore in the similar period of the previous financial year.
As of 31 December 2014, ICICI Bank's gross non-performing assets rose to 3.4 per cent of gross advances from 3.05 per cent in the same quarter of the previous fiscal. Net NPAs also rose to 1.9 per cent from 1.76 per cent during the period.