ICICI Bank Q3 Results: Profit increased by 34.2% to Rs 8312 crore in December quarter, slight improvement in asset quality


ICICI Bank Q3 Results: In the third quarter of the current financial year, the bank’s profit increased by 34.2% to Rs 8312 crore. There has been a marginal improvement in the asset quality of private banks in the December quarter. Net NPA ratio reduced to 0.55% as on December 31, 2022 from 0.61% as on September 30, 2022.

New Delhi. ICICI Bank Q3 Results: The country’s largest private bank ICICI Bank (ICICI Bank) has released the results for the October-December quarter. ICICI Bank has declared strong results for the December quarter. In the third quarter of the current financial year, the bank’s profit increased by 34.2% to Rs 8312 crore. The bank’s net profit stood at Rs 6,194 crore in the same quarter a year ago. Its profit has increased due to increase in interest income in the last quarter. The bank’s Net Interest Margin (NIM) also improved to 4.65% in the last quarter from 3.96% a year ago.

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Interest income increased by 34.6%
The bank’s total income rose to Rs 33,529 crore in the December quarter as against Rs 27,069 crore in the December 2021 quarter. The bank’s net interest income grew by 34.6% to Rs 16,465 crore in the October-December 2022 quarter. 12,236 crore in the same quarter a year ago.

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Marginal improvement in asset quality
There has been a marginal improvement in the asset quality of private banks in the December quarter. Net NPA ratio reduced to 0.55% as on December 31, 2022 from 0.61% as on September 30, 2022. The bank’s gross non-performing assets (NPA) stood at 3.07%, compared to 4.13% a year ago. Net NPA also improved to 0.55% from 0.84% ​​a year ago.

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The bank’s integrated profit in the third quarter of the financial year increased by 34.5% to Rs 8,792 crore as against Rs 6,536 crore in the year-ago quarter.

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