ICICI bank head office in Mumbai.
Credit: Reuters File Photo
GST authorites on Wednesday initiated searches at three offices of ICICI Bank, according to news agency ANI.
"..On December 4, 2024, GST authorities initiated search at three offices of ICICI Bank. The proceedings are on-going and the Bank is co-operating fully in providing data as per request placed...", the Bank said in an official statement.
The search comes amid the backdrop of the private sector lender posting a 14.5 per cent growth in standalone profit at Rs 11,746 crore in the second quarter ended September 2024.
The private sector lender had earned a net profit of Rs 10,261 crore in the September quarter of the previous financial year.
The total income increased to Rs 47,714 crore during the quarter under review, as against Rs 40,697 crore in the same quarter last year, ICICI Bank said in a regulatory filing.
(With PTI inputs)