Private sector lender ICICI Bank on Saturday reported a 34 per cent jump in its standalone profit at ₹8,312 crore for the quarter ended in December 2022, helped by healthy growth in net interest income.
The bank had posted a net profit of ₹6,194 crore in the same quarter a year ago.
The bank's total income increased to ₹33,529 crore in the latest December quarter from ₹27,069 crore in the year-ago period, the bank said in a regulatory filing.
Net interest income (NII) increased by 34.6 per cent to ₹16,465 crore from ₹12,236 crore in the third quarter a year ago.
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Net Interest Margin (NIM) too improved to 4.65 per cent as compared to 3.96 per cent in the same period a year ago.
On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 3.07 per cent as compared to 4.13 per cent at the end of the third quarter of previous fiscal.
{{/usCountry}}On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 3.07 per cent as compared to 4.13 per cent at the end of the third quarter of previous fiscal.
{{/usCountry}}Net NPAs also eased to 0.55 per cent as against 0.84 per cent in the same period a year ago.
The bank's consolidated profit increased by 34.5 per cent to ₹8,792 crore from ₹6,536 crore in the third quarter of FY22.