The bank had made a profit of ₹4,403 crore in the corresponding January-March quarter of last year.
The bank had made a profit of ₹4,403 crore in the corresponding January-March quarter of last year.
Private lender ICICI Bank on Saturday reported a 59% rise in standalone net profit to £7,019 billion for the fourth quarter of fiscal 2021-22.
The bank had made a profit of ₹4,403 crore in the corresponding January-March quarter of last year.
The bank’s total revenues increased to ₹27,412 billion in the January-March period from ₹23,953 billion in the same quarter last year, ICICI Bank said in a regulatory filing.
Net interest income (NII) rose 21 percent to £12,605 billion from £10,431 billion in the same quarter last year, it said.
On a consolidated basis, ICICI Bank Group’s net income increased by 58% to ₹7,719 billion in the March quarter compared to ₹4,886 billion in the last quarter of 2020-21.
The quality of the Bank’s assets improved as gross non-performing assets decreased to 3.6% of gross advances as at 31 March 2022 from 4.96% in the corresponding period a year ago.
Net NPAs also declined to 0.76% from 1.14% at the end of the fourth quarter of the prior fiscal year.
As a result, provisions other than taxes and contingencies for the quarter decreased to ₹1,069 billion a year earlier from ₹2,883 billion.
The provision coverage ratio (PCR) was 79.2% at the end of the third quarter, it said.
