ICICI Bank Q2: Net profit jumps 30% to Rs 5,511 crore
ICICI Bank Q2 results: The private lender said total advances grew by 17 percent year-on-year to Rs 7.64 lakh crore in Q2FY22.
ICICI Bank on October 23 reported a 30 percent YoY rise in net profit at Rs 5,511 crore in the July to September quarter. Net interest income, the difference between interest earned and interest expenses, has grown 25 percent to Rs 11,690 crore in Q2FY22, with 43 bps improvement YoY (11 bps QoQ) in net interest margin at 4 percent, said the bank in its BSE filing on October 23. One percent is equal to 100 basis points.
The private lender said total advances grew by 17 percent year-on-year to Rs 7.64 lakh crore in Q2FY22.
Asset quality improved further with increase recoveries and upgrades, and decline in NPA additions during the quarter. Gross non-performing assets (NPA) as a percentage of gross advances at 4.82 percent fell by 33 bps sequentially and net NPAs at 0.99 percent, the lowest since December 2014, declined 17 bps QoQ, in Q2FY22.
The bank said fees from retail, business banking and SME customers increased 25 percent YoY and constituted about 78 percent of total fees.
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