ICICI Bank Q1 net profit jumps 15.9% to Rs 13,558 cr

Mumbai: ICICI Bank on Saturday reported a 15.9 per cent jump in its consolidated net profit to Rs 13,558 crore in the June quarter this fiscal.

The lender had reported a net profit of Rs 11,696 crore in the year-ago period.

On a standalone basis, the country's second-largest private sector lender reported a net profit of Rs 12,768 crore for the reporting quarter, up 15.5 per cent from Rs 11,059 crore in the year-ago period.

Its core net interest income increased 10.6 per cent to Rs 21,635 crore, while the other income, excluding treasury operations, recorded a 13.7 per cent surge to Rs 7,264 crore.

The net interest margin narrowed to 4.34 per cent from 4.41 per cent a quarter ago, it said.

The overall provisions, excluding the ones for taxes, came at Rs 1,815 crore compared to Rs 1.332 crore in the year-ago period, the bank said.

The gross non-performing assets ratio improved to 1.67 per cent as of June 30 from 2.15 per cent a year ago.