ICICI Bank Q4 consolidated net jumps 27% to Rs 9,852.7 cr

Private lender ICICI Bank on Saturday reported a 27.64 per cent jumo in consolidated net profit to Rs 9,852.70 crore for the January-March quarter of 2022-23 compared to the year ago period.

On a standalone basis, the largest private sector lender reported a nearly 30 per cent jump in its net profit for the March quarter at Rs 9,121.87 crore.

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Its total income moved up to Rs 36,108.88 crore in the reporting quarter, as against Rs 27,412.32 crore in the year-ago period, while the overall expenses moved up to Rs 22,282.50 crore from Rs 17,119.38 crore in the year-ago period.

The share of gross non-performing assets in the overall loans was 2.81 per cent as of March 31, 2023, which is an improvement from 3.60 per cent in the year-ago period and 3.07 per cent in the quarter-ago period.

Its overall provisions increased to Rs 1,619.80 crore from Rs 1,068.95 crore in the year-ago period, but were down when compared with the December quarter's Rs 2,257.44 crore.