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ICICI Bank Q3 net profit up 25 pc on robust interest income ICICIBank | Q3FY22

ICICI Bank Q3 net profit up 25 pc on robust interest income

India Blooms News Service | @indiablooms | 22 Jan 2022, 07:04 pm

New Delhi/UNI: Private lender ICICI Bank on Saturday reported a 25.38 percent year-on-year rise in its net profit for the quarter ending December 31, 2021, at Rs 6,194 crore.

The net profit of the bank in the third quarter (Q3) of FY21 was Rs 4,940 crore.

Net interest income, one of the key metrics of a bank's performance, of the bank in Q3FY22 grew 23.44 percent to Rs 12,236 crore as compared to Rs 9,912 crore in the corresponding period of the financial year 2020-21.

Total deposits of the bank grew in Q3FY22 by 16 percent year-on-year to Rs 10.17 lakh crore.

Gross non-performing assets (GNPAs) of the bank rose 6.28 percent to Rs 37,052.74 crore in Q3FY22 from Rs 34,860.43 crore in Q3FY21.

The bank's advances witnessed a 16.4 percent rise in the third quarter of the current fiscal to Rs 8.14 lakh crore as against Rs 6.99 lakh crore in the same period of the previous financial year.

"The net interest margin was 3.96 percent in Q3-2022 compared to 3.67 percent in Q3-2021 and 4.00 percent in the quarter ended September 30, 2021," ICICI Bank said in a statement.

The bank said that its retail loan portfolio grew by 19 percent year-on-year and 5 percent sequentially, and comprised 61.3 percent of the total loan portfolio at December 31, 2021.

"Including non-fund outstanding, the retail loan portfolio was 51.3 percent of the total portfolio at December 31, 2021," it said.

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