ICICI Bank on Saturday reported a 17.73% jump in its December quarter consolidated net profit at 5,498.15 crores, as against 4,670.10 crores in the year-ago period.
On a standalone basis, the country’s second-largest private sector lender by assets showed a 19.12% rise in the post-tax profit at 4,939.59 crores for the reporting quarter, up from 4.146.46 crore in the October-December 2019 period.
Its total income increased to 24,416 crores from the year-ago’s 23,638 crores, while the total expenditure was lower at 15,596 crores as against 16,089 crores.
The reported gross non-performing assets ratio was at 4.38%, but would have been 5.42% if not for the Supreme Court order asking banks not to classify non-paying loan accounts as NPAs after the end of the loan repayment moratorium.
Its overall provisions increased to 2,741 crores from the year-ago period’s 2,083 crores, but lower when compared to the preceding quarter’s 2,995 crores, as per its exchange filing.