ICICI Bank's quarterly net profit fell 28 percent to Rs 655 crore

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(Commerce Rep) Mumbai, Ta. 26 October 2019, Saturday

ICICI Bank Limited, one of India's top banks in the private sector, has announced poor performance as a result of higher tax expenditures on a standalone basis in the second quarter ended September 1.

The net profit of the bank has declined by 5% to Rs. 8 crore from Rs. 8 crore in the corresponding period of the previous year. The bank has spent Rs 1 crore in taxes this quarter.

The asset quality of the bank has improved. Total non-performing assets have declined this time to 8% this year, compared to 5.7 percent in the same period last year and 5.9 percent in the June 1 quarter.

Net NPAs were down to 8.5 percent from the first quarter, down from 5 percent. The bank's capital adhesion ratio stands at 8.5%. Provisions and contingencies for sinking loans by the bank have dropped to Rs 1 crore this time from Rs 5 crore.

The bank's net interest income increased by 5 percent to Rs 5 crore compared to Rs 1 crore. On a consolidated basis, the bank's net profit fell by 8.9 percent to Rs 8.5 crore compared to Rs 1.8 crore in the corresponding period of the previous year, and gross income increased by 8 percent to Rs. There are millions.

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