ICICI Bank
on Saturday reported profit of Rs 1,908 crore for June quarter compared
with a loss of Rs 120 crore in the same quarter last year. Analysts had
projected the profit figure in Rs 1,350-2,150 crore range.
Net interest income (NII) for the quarter rose 27 per cent YoY to Rs
7,737 crore, which was better than 20 per cent growth brokerages were
anticipating earlier.
The NII figure included Rs 184 crore of interest on income tax refund compared with Rs 8 crore in the year-ago quarter.
The largest private bank said its non-interest income, excluding
treasury income, rose to Rs 3,247 crore compared with Rs 3,085 crore in
the same quarter last year.
Provisions for the quarter came in at Rs 3,496 crore against Rs 5,971 crore in the year-ago quarter.
The gross additions to NPA were Rs 2,779 crore compared with Rs
4,036 crore in the year-ago quarter and Rs 3,547 crore in March quarter.
Recoveries and upgrades of non-performing loans stood at Rs 931 crore.
Gross non-performing assets (NPAs) for the
quarter eases to 6.49 per cent from 6.70 per cent in March quarter and
8.81 per cent in the year-ago quarter. Net NPA also dropped to 1.77 per
cent from 2.06 per cent in March quarter and 4.19 per cent in the same
quarter last year.
Net interest margin (NIM) for the quarter rose to 3.61 per cent from 3.19 per cent YoY.
Fee
income jumped 10 per cent YoY to Rs 3,039 crore. Retail fees accounted
for 72 per cent of total fees, the bank said in a BSE filing.
Treasury income stood at Rs 179 crore compared with Rs 766 crore YoY.
The last year’s treasury numbers were aided by a gain of Rs 1,110 crore
on sale of shareholding in ICICI Prudential Life Insurance.
The
core operating profit excluding dividend income from subsidiaries
climbed 25 per centto Rs 5,919 crore from Rs 4,725 crore YoY.
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