ICICI Bank net profit jumps 25.7% to Rs 11,053 crore in Q3

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MUMBAI: ICICI Bank on Saturday said its consolidated net profit for the December quarter jumped 25.7% to Rs 11,052.60 crore, up from Rs 8,792.42 crore. The second largest private sector lender posted a 23.6% rise in standalone net profit for the third quarter of the current fiscal to Rs 10,272 crore.
The bank’s core net interest income was up 13.4% to Rs 18,678 crore, on the back of net interest margin narrowing to 4.43% and the domestic advances growth coming at 18.8%.
The bank’s other income grew 19.8% to Rs 5,975 crore during the reporting quarter.
Its provisions came down to Rs 1,049.37 crore from the Rs 2,257.44 crore in the year-ago period, helping the profit growth.

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