BUSINESS

ICICI Bank Q3 Net Profit Rises 19% To Rs 6,536 Crore

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ICICI Bank Q3 Net Profit Rises 19% To Rs 6,536 Crore

ICICI Bank’s internet revenue for December quarter rose by 19 per cent

New Delhi: Country’s second largest personal sector lender ICICI Bank has reported an enormous 18.8 per cent soar in its consolidated internet revenue to Rs 6,536.55 crore for the third quarter resulted in December 2021.

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It had posted a consolidated internet revenue of Rs 5,498.15 crore throughout the corresponding interval of final yr.

On a standalone foundation, the financial institution recorded a 25 per cent rise within the post-tax revenue at Rs 6,194 crore for the quarter, up from Rs 4,939.59 crore within the October-December 2020, ICICI Bank stated in a regulatory submitting.

The financial institution’s internet curiosity earnings (NII), or the core earnings a financial institution earns by giving loans, was up 23.44 per cent to Rs 12,236.04 crore from Rs 9,912.46 crore final yr. Other earnings grew 6.42 per cent to Rs 4,987.07 crore.

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Provisions and contigencies fell 26.8% to Rs 2,007.30 crore from Rs 2,741.72 crore year-on-year.

Gross non performing belongings (NPAs) rose 6.3 per cent to Rs 37,052.74 crore within the third quarter of the present fiscal from Rs 34,860.43 crore throughout the corresponding interval of final yr.

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As a proportion of whole loans, gross NPAs improved 4.13 per cent as in comparison with 4.82 per cent within the earlier quarter and 4.28 per cent within the year-ago quarter.


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