ICICI Bank Q3 profit jumps 34 pc to Rs 8,312 crore

Private sector lender ICICI Bank on Saturday reported a 34 per cent jump in its standalone profit at Rs 8,312 crore for the quarter ended in December 2022, helped by healthy growth in net interest income.

The bank had posted a net profit of Rs 6,194 crore in the same quarter a year ago.

The bank's total income increased to Rs 33,529 crore in the latest December quarter from Rs 27,069 crore in the year-ago period, the bank said in a regulatory filing.

Net interest income (NII) increased by 34.6 per cent to Rs 16,465 crore from Rs 12,236 crore in the third quarter a year ago.

Net Interest Margin (NIM) too improved to 4.65 per cent as compared to 3.96 per cent in the same period a year ago.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 3.07 per cent as compared to 4.13 per cent at the end of the third quarter of previous fiscal.

Net NPAs also eased to 0.55 per cent as against 0.84 per cent in the same period a year ago.

The bank's consolidated profit increased by 34.5 per cent to Rs 8,792 crore from Rs 6,536 crore in the third quarter of FY22.

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