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Interest push: ICICI Bank profit up 21% to Rs.2,304 cr
ICICI Bank, India’s second-largest bank, on Friday posted a 21% year-on-year rise in standalone net profit to Rs.2,304 crore during the January-March quarter against Rs.1,902 crore a year-ago, driven by healthy growth in interest income, HT reports.
Updated on: Apr 26, 2013, 22:33:42 IST
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ICICI Bank, India’s second-largest bank, on Friday posted a 21% year-on-year rise in standalone net profit to Rs.2,304 crore during the January-March quarter against Rs.1,902 crore a year-ago, driven by healthy growth in interest income.
“Growth is driven by healthy growth in balance sheet and improvement in operating parametres,” said Chanda Kochhar, MD and CEO, ICICI Bank.
Net interest income (the difference between interest earned and interest paid) grew 22% to Rs.3,803 crore during the quarter.
Kochhar said no transactions, violating anti-money laundering rules, have taken place at the bank.
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