The country’s second largest private sector bank ICICI Bank in its fourth quarterly results reported a standalone profit of Rs. 1221 crore. In the year ago period, profit at the bank came in at Rs. 969.06 crore.
Net interest income for the period under review stood at Rs 8,927 crore against Rs 7,620.06 crore in year-ago period.
ICICI Bank Post Q4FY20 Profit Of Rs. 1221 Crore
ICICI Bank Post Q4FY20 Profit Of Rs. 1221 Crore; Asset Quality Improves YoY
For the financial year ended March 31, net profit of the company grew 136% year-on-year to Rs 7,931 crore.
On a combined basis, provisions and contingencies at the bank surged 9.47% year-on-year to Rs. 5967 crore.
Gross NPA at the bank showed some improvement at 5.53% in the March ended quarter against the previous year’s figure of 6.7%. In the quarter ended December of FY20, gross NPA came in at 5.95%.
Core operating profit of the bank grew 18 per cent YoY to Rs 7,148 crore during the quarter under review.