ICICI Bank Q2 Results: Profit Rises 5%, NII Up 7%

ICICI Bank reported a 5% year-on-year rise in net profit for the September quarter to Rs 12,359 crore, compared with Rs 11,746 crore a year earlier, according to its notification to the exchanges on Saturday.

Net interest income increased 7% to Rs 21,529 crore from Rs 20,048 crore in the same period last year.

• Net profit up 5% to Rs 12,359 crore versus Rs 11,746 crore (year-on-year)

• Net interest income rises 7% 21,529 crore versus Rs 20,048 crore (year-on-year)

• Gross NPA ratio at 1.58% vs 1.67% (quarter-on-quarter)

• Net NPA ratio at 0.39% vs 0.41% (quarter-on-quarter)

ICICI Bank's return on assets, on an annualised basis, fell to 2.36% from the previous quarter's 2.44%. Advances grew over 10% year-on-year to Rs 14.1 lakh crore, while total deposits jumped 7.7% in the same period to Rs 16.12 lakh crore as on Sept. 30.

The company's net interest margin fell four basis points to 4.30% for the September quarter compared to the previous three months' 4.34%.

The profit after tax for the company's IPO-bound concern ICICI Prudential Asset Management Company was Rs 835 crore, marking a 20% year-on-year increase.