ICICI Bank shares settle on mixed note after earnings announcement

NewsDrum Desk
23 Jan 2023

New Delhi, Jan 23 (PTI) Shares of ICICI Bank on Monday settled on a mixed note after the private lender reported a jump in its consolidated net profit helped by an overall healthy performance.

In early trade, shares of ICICI Bank jumped 1.06 per cent to Rs 879.65 on the BSE. The stock touched an high of Rs 883.90 and low of Rs 865.05 apiece.

The stock finally ended at Rs 871.55 per piece, up by 0.13 per cent.

On the NSE, it fell 0.09 per cent to settle at Rs 869.60 apiece.

In volume terms, 4.91 lakh shares of the company were traded on the BSE and over 1.6 crore shares on the NSE during the day.

In a regulatory filing on Saturday, ICICI Bank reported a 34.5 per cent jump in net profit at Rs 8,792 crore for December 2022 quarter on a consolidated basis, helped by an overall healthy performance.

The second largest private sector lender's profit after tax grew 34.2 per cent to Rs 8,312 crore in the quarter, despite additional hit on account of a change in policies and also making prudential provisions.

The non-interest income increased 1.8 per cent to Rs 4,987 crore, excluding treasury income.

On the asset quality front, gross non-performing assets ratio improved to 3.07 per cent from 3.19 per cent in the preceding quarter and 4.13 per cent in the year-ago period, its executive director Sandeep Batra said.

On the loan growth front, domestic advances grew 21.4 per cent, retail grew 23.4 per cent, business banking grew 37.9 per cent and wholesale grew 18.2 per cent.

The 30-share BSE Sensex benchmark climbed 319.90 points or 0.53 per cent at 60,941.67 on Monday. PTI HG HVA

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