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HomeFinanceICICI Bank's profit of Rs 4940 crore in Q3, NPA decreased

ICICI Bank’s profit of Rs 4940 crore in Q3, NPA decreased

ICICI Bank has earned a profit of Rs 4940 crore in the third quarter of the current financial year 2020-2021. The bank had a profit of Rs 4,147 crore in the same period of the last financial year.




new Delhi. The country’s largest private bank ICICI Bank has reported a net profit of Rs 4940 crore in the third quarter i.e. October-December of the current financial year 2020-2021. ICICI Bank registered a growth of Rs 4,939.6 crore, a jump of 19.1 percent in the quarter ended on Saturday 31 December 2020. While it was estimated to be 4269.4 crores. At the same time, the bank had a profit of Rs 4,147 crore in the third quarter of last year. The bank’s gross NPA in Q3 declined to 4.38 per cent from 5.17 per cent in the third quarter of this year.

According to the Q3 results released by ICICI Bank, net NPA declined from 1 per cent to 0.63 per cent in the reporting period. The bank said in a statement that its total income rose to Rs 24,416 crore during the quarter, from Rs 23,638 crore in the same period last year. The total expenses of the bank declined to Rs 15,596 crore during the period under review, from Rs 16,089 crore a year ago.

The bank said that its gross non-performing assets (NPA) ratio stood at 4.38 percent during the quarter. The Supreme Court had instructed banks not to classify accounts not paying installments of loans as NPAs due to the corona virus epidemic. If not, the bank’s gross NPA ratio would have been 5.42 percent.

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The total provision of the bank increased to Rs 2,741 crore in the December quarter, from Rs 2,083 crore in the same period a year ago. The bank’s total capital adequacy ratio at the end of December 31, 2020 was 18.04 percent. The bank’s interest income in the third quarter of FY 2021 has been Rs 9,913 crore while it was estimated to be Rs 9,505 crore. At the same time, the bank’s interest income was Rs 8545 crore in the third quarter of last year.

 

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