ICICI Bank's net profit for December quarter increased by 19 per centNew Delhi: Nation's second biggest economic sector loan provider ICICI Bank has reported a big 18.8 percent jump in its combined net profit to Rs 6,536.55 crore for the third quarter ended in December 2021.
It had actually published a consolidated net earnings of Rs 5,498.15 crore during the matching duration of last year.On a standalone basis, the bank recorded a 25 percent increase in the post-tax profit at Rs 6,194 crore for the quarter, up from Rs 4,939.59 crore in the October-December 2020, ICICI Bank said in a regulative filing.The bank's net interest income (NII), or the core earnings a bank makes by providing loans, was up 23.44 per cent to Rs 12,236.04 crore from Rs 9,912.46 crore last year.
Other earnings grew 6.42 percent to Rs 4,987.07 crore.Provisions and contigencies fell 26.8% to Rs 2,007.30 crore from Rs 2,741.72 crore year-on-year.
Gross non carrying out assets (NPAs) increased 6.3 per cent to Rs 37,052.74 crore in the third quarter of the existing financial from Rs 34,860.43 crore throughout the corresponding period of last year.As a percentage of overall loans, gross NPAs enhanced 4.13 percent as compared to 4.82 per cent in the previous quarter and 4.28 per cent in the year-ago quarter.