ICICI Bank registers 14.5 per cent profit at Rs 11,746 crore for Q2 results – Times of India-OxBig News Network

NEW DELHI: The bank announced its profits for the second quarter of the current financial year, reporting a standalone growth of 14.5 per cent, reaching Rs 11,746 crore. In the corresponding period, a year ago, the private sector lender reported a net profit of Rs 10,261 crore.
ICICI Bank revealed in a regulatory filing that its total income soared to Rs 47,714 crore for the quarter under review, compared to Rs 40,697 crore in the same quarter last year. The bank’s interest income for the quarter reached Rs 40,537 crore, compared to Rs 34,920 crore in the same period the previous year.
Net interest income (NII) rose by 9.5 percent to Rs 20,048 crore, up from Rs 18,308 crore in the second quarter of the previous year.
In terms of asset quality, the bank saw improvement as gross non-performing assets (NPAs) fell to 1.97 per cent of gross loans by the end of September 2024, compared to 2.48 per cent a year earlier.
Net NPAs, or bad loans also eased to 0.42 percent from 0.43 percent at the end of the second quarter of FY24.
The private lender, on consolidated basis, registered a 19 per cent growth in net profit amounting to Rs 12,948 crore against Rs 10,896 crore in Q2 FY24.