ICICI Bank
Private sector ICICI Bank has reported a 14.5 per cent rise in standalone profit at Rs 11,746 crore for the July-September quarter of the current financial year. The net profit of the bank in the same quarter of the last financial year was Rs 10,261 crore. In a filing to the stock market on Saturday, the bank said its total income increased to Rs 47,714 crore in the September quarter, which was Rs 40,697 crore in the same quarter of the last financial year. The bank’s interest income increased to Rs 40,537 crore from Rs 34,920 crore in the same quarter of the last financial year.
Decline in NPA
The bank’s net interest income increased by 9.5 per cent to Rs 20,048 crore from Rs 18,308 crore in the same quarter last fiscal. On the asset quality front, the bank’s gross non-performing assets (NPAs) are expected to decline to 1.97 per cent of gross loans by the end of September 2024. Whereas a year ago it was 2.48 percent. Similarly, net NPA declined to 0.42 per cent from 0.43 per cent at the end of second quarter of last financial year. The bank’s net profit on a consolidated basis increased by 19 per cent to Rs 12,948 crore in the September quarter from Rs 10,896 crore in the same quarter last fiscal.
What is the condition of the stock?
On Friday, the last trading day of the week, ICICI Bank shares closed with gains. The bank’s shares closed at Rs 1255.50 on the Bombay Stock Exchange with a gain of 0.23 per cent or Rs 2.90. At the same time, the market cap of the bank closed at Rs 8,84,911.27 crore.
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