ICICI Bank Q4 consolidated net jumps 27% to ₹9,852.7 cr

Traffic moves past the headquarters of ICICI bank in Mumbai, India, April 21, 2023. | Image Credit: Reuters

Private lender ICICI Bank on April 22 reported a 27.64% rise in consolidated net income at ₹9,852.70 crore for the January-March quarter of 2022-23 compared to a year ago.

On a standalone basis, the largest private sector lender reported nearly 30% rise in its net profit for the March quarter at ₹9,121.87 crore.

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Its total revenue rose to ₹36,108.88 crore in the reporting quarter, compared to ₹27,412.32 crore in the year-ago period, while total expenses rose to ₹22,282.50 crore from ₹17,119.38 crore a year ago.

The share of gross non-performing assets in total loans was 2.81% as of March 31, 2023, which is an improvement from 3.60% last year and 3.07% in the quarter-ago period.

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Its total provisions rose to ₹1,619.80 crore from ₹1,068.95 crore in the year-ago period, but declined when compared to ₹2,257.44 crore in December.

Author: Amit Kumar
Amit Kumar is a highly experienced financial expert with over 10 years of experience in banking and finance. He shares his insights on loans, finance, and business strategies through engaging articles on this Loan & Business site, offering practical advice for anyone seeking to improve their financial situation. Amit's mission is to empower his clients and readers to make informed financial decisions and achieve their financial goals.

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