November 2023 \ Business & Investment \ Business News
Rs 10,261 crore Q2 profit for ICICI Bank

Mumbai: Private sector ICICI Bank in October said it closed the second quarter of FY24 with an increased net profit of Rs 10,261 crore.

In a regulatory filing, it said that for the quarter ended September 30, it had earned a total interest income of Rs 34,920.39 crore (against Q2FY23’s Rs 26,033.04 crore) and a net profit of Rs 1,323.27 crore (Rs.828.09 crore).

During the period under review, the bank had earned Rs 5,776.68 crore (Rs. 5,054.87 crore) taking the total income to Rs 40,697.07 crore (Rs 31,087.91 crore).

The net interest margin was 4.53 per cent in Q2-2024 compared to 4.31 per cent in Q2-2023 and 4.78 per cent in Q1-2024. The net interest margin was 4.65 per cent in H1-2024. As on September 30, ICICI Bank’s gross non performing assets (GNPA) and net NPA stood at Rs 29,836.94 crore (Rs 32,570.86 crore) and Rs 5,046.47 crore (Rs. 6,099.29crore) respectively.

The bank said provisions (excluding provision for tax) were Rs 583 crore in Q2-2024 compared to Rs 1,644 crore in Q2-2023.

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