ICICI Bank’s net profit increased more than six times in the quarter ended September 30 on a single basis to Rs 4,251 crore. The bank had reported a net profit of Rs 655 crore in the same quarter of 2019-20. The private sector bank informed the stock market on Saturday that its single-year operating income stood at Rs 23,650.77 crore during the review period. It was Rs 22,759.52 crore in the same quarter last year.
What is the bank’s NPA?
Similarly, the situation of non-performing assets (NPAs) of the bank also improved. The gross NPA of the bank stood at Rs. 38,989.19 crore, ie 5.17 percent of the gross loan during this period. In the same period of the last financial year, it was 5.37 percent i.e. Rs 45,638.79 crore. The net NPA of the bank stood at Rs 7,187.51 crore, a percentage of its net loan in the review period. It was 1.60 percent i.e. Rs 10,916.40 crore in the same period last year.
Profit on integrated basis increased fourfold
On a consolidated basis, the bank’s net profit grew four-fold to Rs 4,882 crore in the review period. This was Rs 1,131 crore in the same period of the previous financial year. The consolidated income of the bank during this period was Rs 39,321.42 crore as against Rs 37,424.78 crore in the same period last year.
The bank’s provision for stranded loans stood at Rs 2,995.27 crore. This was Rs 2,506.87 crore in the same period last year. The bank has shown capital expenditure of Rs 8,772 crore on the provisions related to Covid-19 in the quarter ended September 30.
Please tell that ICICI Bank’s single net profit for the first quarter (April-June) of the current financial year had increased by 36 percent to Rs 2,599 crore. In a communication sent to the stock exchanges, the bank had said that its total income rose to Rs 26,066 crore during the quarter, from Rs 21,405.50 crore in the same quarter of the previous financial year.