ICICI Bank, one of the famous private banks of the country, has presented the results of the June quarter. ICICI Bank has made bumper profits in this quarter. ICICI Bank has said in the quarterly report that there has been a growth of 39.7% in its profits. The special thing is that ICICI Bank had earned a profit of Rs 6,905 crore in the June quarter last year, which increased to Rs 9,648 crore in this quarter. However, a profit of Rs 9,300 crore was estimated in the ET Now poll. But the bank demolished all the estimates.
The special thing is that there has been a bumper growth in the interest income (NII) of the bank. NII income has also increased by 38% on an annual basis. Now the income from NII has increased from Rs 13,210 crore to Rs 18,227 crore. At the same time, an increase of 16% has also been registered in income from other means, which is an increase of Rs 5,435 crore. Also, the net interest margin of the bank has increased from 4.01% to 4.78%.
Gross NPA has come down from 2.81% to 2.76%
Improvement has also been registered in the asset quality of the bank on a quarterly basis. There has been an improvement of 5 basis points in the gross NPA of the bank. Gross NPA has come down from 2.81% to 2.76% in this quarter. At the same time, there has been no change in Net NPA. It is still stable at 0.48%. Similarly, in the June quarter, the bank's provisioning has increased by 13% year-on-year to reach Rs 1,292 crore.
Deposits of Rs 12.38 lakh crore
A growth of 18.1% has been recorded in total advances, which have increased to Rs 10.57 lakh crore. At the same time, an increase of 21.9% has been recorded in the retail loan portfolio on an annual basis. Whereas on a quarter-to-quarter basis, it has increased by 4.5%. The share of retail loans in the total loan portfolio is 54.3%. The special thing is that there has been a boom in bank deposits as well. It has reached Rs 12.38 lakh crore with an increase of 17.9%.
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