ICICI Bank Q3 results: Profit soars 158%
- The bank had a profit of Rs 1605 crore in the December quarter of 2018.
- 51% decrease in provisioning, net interest income increased by 24% to Rs 8545 crore.
NEW DELHI: ICICI Bank’s profit grew by 158% to Rs 4,146.46 crore in the October-December quarter. 1,604.91 crore in the December quarter of 2018. There is a 51% reduction in provisioning on an annual basis. The bank provided Rs 2,083 crore in the previous quarter. The figure stood at Rs 4,244 crore in the December quarter of 2018. The bank announced its quarterly results on Saturday.
Retail loan growth stood at 19%
Net interest income increased by 24% to Rs 8,545 crore. 6,875 crore in the December quarter of 2018. Net interest margin has been 3.77%. Income from fees has increased by 17%. 15% growth has been registered in the average deposit of current and savings account. Fixed deposits grew 24% year-on-year. Total loan growth was 16%. Retail loans grew by 19%.
