ICICI Bank: The private sector lender reported a 35.8 percent YoY rise in its standalone net profit to ₹10,261 for the second quarter of FY24 versus ₹7,557.84 crore in the year-ago period.
ICICI Bank reported a 36% increase in net profit to ₹10,261 crore in the second quarter, driven by loan growth and higher fee income. Total advances grew by 18% year-on-year, with retail loans accounting for 54% of the total loan portfolio. Business banking loans and loans to small and medium enterprises also saw significant growth. The bank s asset quality remained stable, with the gross non-performing asset ratio declining to 2.48% from 3.19% a year ago. Despite some slippages in the retail loan segment, the bank does not anticipate any extraordinary risk build-up.
India Business News: Private lender ICICI Bank reported a 35.8% increase in net profit for the July-September quarter on Saturday.Standalone net profit rose to a record Rs
The Mumbai-based bank's standalone profit surged to Rs 10,261 crore for the quarter, marking a substantial increase from the Rs 7,557.84 crore reported in the same period the previous year.