New Delhi: Private lender ICICI Bank on Saturday reported a 27.64 percent jump in consolidated net profit to Rs 9,852.70 crore for the January-March quarter of 2022-23 compared to the year-ago period. On a standalone basis, the largest private sector lender reported a nearly 30 percent jump in its net profit for the March quarter at Rs 9,121.87 crore.
Its total income moved up to Rs 36,108.88 crore in the reporting quarter, as against Rs 27,412.32 crore in the year-ago period, while the overall expenses moved up to Rs 22,282.50 crore from Rs 17,119.38 crore in the year-ago period. (Also Read: Axis Bank Hikes FD Rates, Now Offers Up To 7.95%: Check Latest Rates 2023)
The share of gross non-performing assets in the overall loans was 2.81 percent as of March 31, 2023, which is an improvement from 3.60 percent in the year-ago period and 3.07 percent in the quarter-ago period. (Also Read: Next-Gen Business Tycoons: Meet Kids From India's Richest Families Who Are Ready To Lead Empire)
Its overall provisions increased to Rs 1,619.80 crore from Rs 1,068.95 crore in the year-ago period but were down when compared with the December quarter's Rs 2,257.44 crore.
