Interest income lifts ICICI Bank net 20% in Q2
Mumbai: ICICI Bank has posted a 20 per cent increase in its second quarter net profit aided by a strong growth in its interest income.
In the July to September quarter, India’s second largest private bank posted a net profit of Rs 2,352 crore against Rs 1,956 crore a year-ago.
NII, total income
Net interest income, the difference between interest earned and interest given, grew 20 per cent to Rs 4,044 crore.
Total income grew 7.5 per cent to Rs 12,979 crore, while total expenditure was up 2.4 per cent at Rs 9,092 crore.
The bank said it has set aside Rs 625 crore (Rs 508 crore, a year ago) as cover for potential loan losses.
Gross non-performing assets as a percentage of total advances fell to 3.08 per cent in the second quarter compared with 3.54 per cent in the year-ago quarter.
Non-interest income — comprising fee income, treasury income and lease income — was up six per cent at Rs 2,166 crore.