Private sector lender ICICI Bank on Saturday reported 14.5 per cent year-on-year growth in standalone net profit at Rs 11,746 crore for the September quarter of 2024. The private sector lender had earned a net profit of Rs 10,261 crore for the same quarter of the preceding financial year.
Total income increased to Rs 47,714 crore in the quarter under review from Rs 40,697 crore during the same period last year, the ICICI Bank said in a regulatory filing. Interest income for the quarter stood at Rs 40,537 crore, as compared to Rs 34,920 crore during the year-ago period.
NII up 9.5% at Rs 20,048 crore compared with Rs 18,308 crore for the same period of last year. On the asset quality front, the bank reported a better trend with gross NPAs falling to 1.97 percent of the gross loans by the end of September 2024 against 2.48 percent of a year ago. Net NPAs or bad loans also eased to 0.42 per cent from 0.43 per cent at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank saw a growth of 19 per cent in net profit to Rs 12,948 crore against Rs 10,896 crore in Q2 FY24.
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