ICICI Bank Q1 Results: Profit rises 50% YoY to Rs 6,905 crore; NII jumps 21%
The bank mentioned its net desire income (NII) rose 21 per cent YoY to Rs 13,210 crore compared with Rs 10,936 crore in the similar quarter last year. Web Curiosity Margin (NIM) for the quarter came in at 4.92 for each cent.
The net desire margin (NIM) for the quarter arrived in at 4.01 for each cent when compared with 4 for every cent in the March quarter and 3.89 per cent in the year-in the past quarter.
Non-desire cash flow, excluding treasury income, climbed 25 for every cent YoY to Rs 4,629 crore from Rs 3,706 crore. Rate revenue was up 32 per cent YoY at Rs 4,243 crore from Rs 3,219 crore. Fees from retail, rural, enterprise banking and SME buyers constituted about 79 per cent of overall charges, the financial institution said in a push release.
Provisions, excluding provision for tax, plunged 60 per cent YoY to Rs 1,144 crore from Rs 2,852 crore. Provisions for June quarter incorporated contingency provision of Rs 1,050 crore designed on a prudent foundation
The bank mentioned it saw treasury obtain of Rs 36 crore for the quarter in contrast with a acquire of Rs 290 crore in the yr-in the past quarter.
Gross NPA ratio for the quarter declined to 3.41 for every cent in June quarter from 3.60 per cent in March and 5.15 for every cent in the year-back 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 benefit conditions, the gross NPA additions stood at Rs 5,825 crore. Recoveries and upgrades of NPAs, excluding compose-offs and sale, arrived in at Rs 5,443 crore in comparison with Rs 4,693 crore in March quarter.
The gross NPAs prepared-off stood at Rs 1,126 crore whilst the provisioning coverage ratio on NPAs came in at 79.6 per cent.
Meanwhile, on a consolidated foundation, the financial institution noted a 55 per cent soar in PAT at Rs 7,385 crore from Rs 4,763 crore YoY.
Consolidated assets grew 13 for each cent YoY to Rs 1,742,777 crore from Rs 1,536,731 crore in the 12 months-ago quarter. The PAT of ICICI Prudential Daily life Coverage arrived in at Rs 156 crore towards a reduction of Rs 186 crore YoY. ICICI Lomard jumped 79.6 for every cent YoY to Rs 349 crore from Rs 194 crore. ICICI Securitiesreported a PAT of Rs 274 crore in opposition to Rs 311 crore in the yr-in the past quarter. The profit of ICICI Prudential Asset Administration Enterprise, came in at Rs 305 crore versus Rs 380 crore YoY.