ICICI Bank's Q3 net profit increases 17% to Rs 5,498 crore
Published On: Saturday, January 30, 2021 | By: Team KnowMyStock
ICICI Bank today( 30th January 2021) reported a 17.73 percent jump in its December quarter consolidated net profit at Rs 5,498.15 crore, as against Rs 4,670.10 crore in the year-ago period. The country's second-largest private sector lender by assets showed a 19.12 percent rise in the post-tax profit at Rs 4,939.59 crore for the reporting quarter, up from Rs 4.146.46 crore in the October-December 2019 period. Its total income increased to Rs 24,416 crore from the year-ago's Rs 23,638 crore, while the total expenditure was lower at Rs 15,596 crore as against Rs 16,089 crore. The reported gross non-performing assets ratio was at 4.38 percent but would have been 5.42 percent if not for the Supreme Court order asking banks not to classify non-paying loan accounts as NPAs after the end of the loan repayment moratorium.
Its overall provisions increased to Rs 2,741 crore from the year-ago period's Rs 2,083 crore, but lower when compared to the preceding quarter's Rs 2,995 crore, as per its exchange filing.
It made a contingency provision of Rs 3,012.16 crore for borrower accounts not classified as NPAs pursuant to the interim order of the Supreme Court and utilised Rs 1,800 crore of the Rs 8,772.30 crore in provisions for the pandemic made earlier.
Tags: ICICI Bank Q3 net proit
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