Rs 4,251 crore net profit for ICICI Bank
Private sector lending major ICICI Bank ...
Private sector lending major ICICI Bank in October reported an exponential rise in standalone net profit for the second quarter of 2020-21. Accordingly, the lender’s net profit rose to Rs 4,251 crore ($576 million) in the quarter ended September 30, 2020 from Rs 655 crore ($89 million) reported for the corresponding quarter of the previous fiscal.
“Core operating profit (profit before provisions and tax, excluding treasury income) grew by 18 per cent year-on-year to Rs 7,719 crore ($1 billion) in Q2-2021,” the bank said in a statement.
“Total deposits grew by 20 per cent year-on-year to Rs 832,936 crore ($112.9 billion) on September 30, 2020,” it added. According to the lender, net interest income (NII) increased by 16 per cent year-on-year to Rs 9,366 crore ($1.3 billion) in Q2-2021 from Rs 8,057 crore ($1.1 billion) in Q2-2020.