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- ICICI Bank Made Profit Of Rs 4616 Crore During April To June, Earned Rs 10,935 Crore From Interest
Mumbai12 minutes ago
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ICICI Bank on Saturday released the results for the June quarter for the financial year 2021-22. The bank’s profit has grown by 78% year-on-year. There has been a profit of Rs 4616 crore in the June quarter. Which was Rs 2599.2 crore in the same quarter last year. While the profit of the bank in the March quarter was Rs 4,402.6 crore.
Interest earning up 18% year-on-year
According to the exchange filing, the total income of the bank declined from Rs 26,067 crore to Rs 24,379 crore. The bank’s interest earnings in the June quarter grew 18% year-on-year to Rs 10,936 crore from Rs 9,280 crore a year ago.
The bank’s net non-performing assets stood at 1.16%, as against 1.14% in the March quarter.
Domestic and retail loan portfolio also increased by 20-20%
Bank deposits grew 16% to Rs 9.26 lakh crore during April-June. The domestic and retail loan portfolio has also grown by 20-20%.
Rs 6,425 crore Kovid-19 linked provision
The bank said that till June 30, a provision of Rs 6,425 crore related to Kovid-19 was kept. Net interest margin (NIM) stood at 3.89% in the June quarter. It was 3.69% in the same quarter last year and 3.84% in the March quarter. Fee income grew 53% to Rs 3,219 crore from Rs 2,104 crore in the June quarter last year. Fees for retail, business banking and SME customers have increased by 65% on a year-on-year basis.
The bank said that it has shown strictness by changing its policy on non-performing loans during the June quarter. It had 5,268 branches and 14,141 ATMs in its network for the quarter ended June 30.