ICICI Bank announced Q2 Finance results from post net profit Rs 4,251 crore

ICICI Bank announced Q2 Finance results from post net profit Rs 4,251 crore

India is the largest Private Bank of ICICI Bank announced Q2 Finance results report Net profit six-fold Jump to Rs.4,251 crores this quarter on September 30, 2020, as last year’s same quarter net profit Rs.655 crores. 

Net Interest Income(NII) has to jump by 16% YoY to Rs.9,366 crores in from Rs.8,057 crores.Net interest margin was 3.57% in this quarter, as against last year quarter 3.69%.

Bank total deposits growth by 20% YoY to Rs.832,936 crore at September 30,2020. CASA this quarter increase 21% for year-on-year. In Q2 average saving account deposits, growth 15%, and total term deposits increase 26% to Rs.468,356 crores on September 30, 2020.

ICICI Bank in the core operation profit increase by 18% to Rs,7,719 crores in year-on-year growth.

‘Post the easing of restriction, there has been a substantial month-on-month increase in disbursements across retail products. Mortgage disbursements during Q2-2021 crossed pre-Covid levels and reached an all-time monthly high in September 2020. Auto loan disbursements have continued increase from June 2020 and have reached pre-Covid levels in September 2020 reflecting the rise in passenger car sales. Disbursements across the rural portfolio have crossed pre-Covid levels in the months of August and September 2020. Credit card spends recovered to about 85% of pre-Covid levels in September 2020 led by increased spend in categories such as health & Wellness, electronics, and e-commerce.

The net Non-Performing Assets ratio was growth 1.00% percent on September 30, 2020. Domestic advance grew by 10% year-on-year and 4% quarter-on-quarter on September 30, 2020, and Retail loan growth by 13% year-on-year and quarter-on-quarter growth by 6% on September 30, 2020.

ICICI Bank current share price Rs.392.90.


Thank you for reading have more updates Follow Social Media and Stay tune to Businesline.info

Leave a Comment