ICICI Bank, the country’s second-largest private sector lender, on October 22 registered a massive 37 percent year-on-year growth in standalone profit and a 26.5 percent rise in net interest income, with a significant fall in bad loan provisions.
The standalone profit jumped to Rs 7,557.84 crore for the quarter, rising from Rs 5,511 crore in the same period last year, the bank said in its BSE filing. The bank further said its net interest income during the quarter increased to Rs 14,787 crore, compared to Rs 11,690 crore in the corresponding period last fiscal, with net interest margin expanding around 30 bps on a sequential as well as an on-year basis. Overall loan portfolio grew by 23 percent year-on-year, with domestic loan portfolio growth at 24 percent,” ICICI Bank said, adding total period-end deposits grew by 12 percent year-on-year to Rs 10.9 lakh crore in September FY23, with average current account and savings account (CASA) ratio of 45 percent in the same period. Stock Market Today Share Market Today Bank Nifty Option Indian Stock Market Trading India Share Market Shares To Buy Today
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