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ICICI Bank Net Profit Rises 30% To Rs 5,511 Crore In September Quarter

ICICI Financial institution Q2 Earnings: Web revenue rose 29.6 per cent to Rs 5,511 crore

ICICI Financial institution Q2 FY22 Outcomes: ICICI Financial institution reported a 29.6 per cent rise in internet revenue to Rs 5,511 crore on a standalone foundation for the July-September quarter within the monetary 12 months 2021-22, in comparison with Rs 4,251.3 crore within the year-ago interval. The nation’s main personal sector lender reported a internet NPA ratio of 0.99 per cent within the September quarter – the bottom since December 31, 2014.

ICICI Financial institution Q2 Outcomes: This is All You Want To Know

  1. ICICI Financial institution’s core working revenue – the revenue earlier than provisions and taxes, elevated 23 per cent year-on-year to Rs 9,518 crore within the second quarter of the monetary 12 months 2021-22, in comparison with Rs 7,719 crore within the year-ago interval. (Additionally Learn: ICICI Financial institution Revenue Rises 78% To Rs 4,616 Crore In June Quarter, Provisions Fall )

  2. The personal sector financial institution’s internet curiosity earnings (NII) – or the distinction between curiosity earned and curiosity paid, within the September quarter elevated 25 per cent year-on-year to Rs 11,690 crore, in comparison with Rs 9,366 crore in the identical quarter final 12 months.

  3. The financial institution’s internet non-performing property (NPAs) have been Rs 8,161 crore within the September quarter, in comparison with Rs 9,306 crore within the previous April-June quarter. The web NPA ratio was 0.99 per cent by the tip of September 2021, in comparison with 1.16 per cent by June 2021.

  4. The full earnings stood at Rs 26,030.82 crore within the September quarter, in comparison with Rs 23,650.77 crore within the year-ago interval. The web curiosity margin was 4 per cent within the quarter, in comparison with 3.89 per cent within the previous June quarter.

  5. ICICI Financial institution’s provisions (excluding provision for tax) declined 9 per cent to Rs 2,714 crore within the September quarter, in comparison with Rs 2,995 crore within the year-ago interval.

  6. The financial institution’s retail mortgage portfolio grew by 20 per cent year-on-year and 5 per cent sequentially – comprising 62.1 per cent of the whole mortgage portfolio through the quarter. The home mortgage portfolio grew by 19 per cent year-on-year.

  7. ICICI Financial institution nonetheless holds pandemic-related provisions of Rs 6,425 crore – the identical stage as reported within the previous April-June quarter, based on its assertion.

  8. The financial institution partnered with Amazon India to supply instantaneous overdraft to sellers, together with non-ICICI Financial institution prospects, on its portal. It additionally launched an instantaneous overdraft facility for MSMEs registered on the GEM Sahay software by means of API integration with the OCEN community.

  9. ICICI Financial institution is a market chief in digital toll collections by means of FASTag, because it had a market share of 37 per cent by worth within the toll collections by means of FASTag within the September quarter, with a 63 per cent year-on-year progress in collections.

  10. On Friday, October 22, shares of ICICI Financial institution settled 0.30 per cent greater at Rs 759.10 apiece on the BSE.

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