ICICI Bank on Saturday reported a 50 per cent year-on-year (YoY) rise in profit after tax (PAT) at Rs 6,905 crore compared with Rs 4,616 crore in the same quarter last year.
The bank said its net interest income (NII) rose 21 per cent YoY to Rs 13,210 crore compared with Rs 10,936 crore in the same quarter last year. Net Interest Margin (NIM) for the quarter came in at 4.92 per cent.
The net interest margin (NIM) for the quarter came in at 4.01 per cent compared with 4 per cent ..
Provisions, excluding provision for tax, plunged 60 per cent YoY to Rs 1,144 crore from Rs 2,852 crore. Provisions for June quarter included contingency provision of Rs 1,050 crore made on a prudent basis
The bank said it saw treasury gain of Rs 36 crore for the quarter compared with a gain of Rs 290 crore in the year-ago quarter.
Gross NPA ratio for the quarter declined to 3.41 per cent in June quarter from 3.60 per cent in March and 5.15 per cent in the year-ago quarter.
In the June quarter, there were net additions of Rs 382 crore to gross NPAs compared to net deletions of Rs 489 crore in March quarter.
In value terms, the gross NPA additions stood at Rs 5,825 crore. Recoveries and upgrades of NPAs, excluding write-offs and sale, came in at Rs 5,443 crore compared with Rs 4,693 crore in March quarter. ..