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.
