ICICI Bank Q1 net spurts 68 pc to Rs 1,035.26 crore

Its total income to Rs 14,615.06 crore, which is marginally lower by 0.19 per cent from Rs 14,644.30 crore for quarter ended June 30, 2008.

Stand-alone results of the bank for Q1 ’10 showed a net profit of Rs 878.22 crore, showing a fall of 20.63 per cent from the comparable quarter of the financial year 2008-09 at Rs 728.01 crore. Total income of the bank has decreased from Rs 9,429.98 crore for quarter ended June 30, 2008 to Rs 9,223.32 crore for quarter ended June 30, 2009, down 2.19 per cent.

Current & savings account

During the quarter, the bank’s net interest margin (NIM) was maintained at 2.4 per cent.  Net interest income (NII) for Q1 ’10 stood at Rs 1,985 crore as compared to Rs 2,090 crore for Q1 ’09 and the decreased in NII was mainly ascribed to decline in advances by 11.6 per cent.

CASA (current account and savings account) ratio of the Bank for June-end this year stood at 30.4 per cent from 27.6 per cent at June-end 2008.  It is significant to note that the bank’s savings account deposits increased by Rs 3,423 crore resulting in an improvement in the CASA ratio.

Capital adequacy ratio (CAR) stood at 17.4 per cent, of this Tier-1 CAR is 13.1 per cent, which the Bank claims to be highest among large domestic banks.Its treasury income for the quarter stood at Rs 714 crore, while fee income stood at Rs 1,319 crore.  Further, it achieved a reduction in the cost/average asset ratio to 1.6 per cent for Q1 ’10 from 1.9 per cent for Q1 ’09, despite the reduction in total asset. Its total deposits were Rs 210,236 crore at June 30, 2009 against Rs 218,348 crore at March 31, 2009. 

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