ICICI Bank reports 2.4% YoY rise in Q2 net profit on Rs 9,119-cr other income; provisions soar 8 times

NEW DELHI: Private lender ICICI Bank on Monday posted 2.4 per cent year-on-year growth in standalone net profit at Rs 3,102 crore for the quarter ended September 30, 2016 against Rs 3,030.11 crore reported for the corresponding quarter a year ago. The bank had reported a net profit of Rs 2,232.35 crore for June quarter, thanks to Rs 9,119 crore other income.

Gross non-performing assets (NPAs) for the quarter stood at 6.82 per cent against 5.87 per cent in the June quarter.

Net non-performing assets ( NPA) of the bank increased to 3.57 per cent from 3.35 per cent in the sequential quarter ended June 30, 2016.

Total provisions increased to 7.52 times to Rs 7,083 crore during the quarter compared with Rs 942.16 crore reported for the same period a year ago.

Total income for the quarter increased to Rs 22,759.08 crore from Rs 16,106.22 crore in the same quarter last year and Rs 16,759.51 crore in June quarter.


Net interest income came in flat at Rs 5,253 crore against Rs 5,251.48 crore reported for the same quarter a year ago.