ICICI Bank's net interest income or the difference between interest earned on loans and expended on deposits rose 21 per cent to Rs 12,604.56 crore versus Rs 10,431.13 crore in the last financial year
ICICI Bank's net profit in March quarter jumped 59 per cent to Rs 7,018.71 crore compared with Rs 4,402 crore during the same period last year. Sharp rise in profit came on the back of lower provisioning as its provisions for contingencies fell 63 per cent to Rs 1,069 crore versus Rs 2,883 crore in the year ago period, the country's second largest private lender said in an exchange filing.
ICICI Bank's net interest income or the difference between interest earned on loans and expended on deposits rose 21 per cent to Rs 12,604.56 crore versus Rs 10,431.13 crore in the last financial year.
The net interest margin was 4 per cent in fourth quarter of last fiscal compared to 3.84 per cent in the year ago period. Non-interest income, excluding treasury income, increased by 11 per cent year-on-year to Rs 4,608 crore and fee income grew by 14 per cent year-on-year to Rs 4,366 crore, ICICI Bank said in a press release.
The retail loan portfolio, excluding rural loans, grew by 20 per cent year-on-year and 6 per cent sequentially, and comprised 52.8 per cent of the total loan portfolio at March 31, 2022. Including non-fund outstanding, the retail loan portfolio, was 43.8 per cent of the total portfolio at March 31, 2022. The business banking portfolio grew by 43 per cent year-on-year and 10 per cent sequentially at March 31, 2022.
ICICI Bank's asset quality saw an improvement as its gross non-performing assets as a percentage of total advances came in at 3.6 per cent compared with 4.13 per cent in the previous quarter. In absolute terms, gross NPAs stood at Rs 33,920 crore.
ICICI Bank shares ended 1.95 per cent lower at Rs 747 ahead of its earnings announcement on Friday.