ICICI Bank Posts Rs 1,908 Crore Profit In June Quarter

ICICI Bank on Saturday reported a net profit of Rs 1,908.03 crore for the quarter ended June 30. The private sector lender had reported a net loss of Rs 119.55 crore for the corresponding three-month period a year ago. 

In a regulatory filing, ICICI Bank said its net income stood at Rs 21,405.50 crore in the first quarter of the current financial year, marking an increase of 15.24 per cent on a year-on-year basis.

Its gross non-performing assets as a percentage of total advances came in at 6.49 per cent as against  6.70 per cent in the previous quarter.

Net non-performing assets (NPA) improved to 1.77 per cent in the June quarter, from 2.06 per cent in the quarter ended March 31.

The bank said its net non-performing assets decreased 51 per cent year-on-year to Rs 11,857 crore as of June 30, 2019.

ICICI Bank shares had closed 1.58 per cent higher at Rs 415.50 apiece on the BSE on Friday, outperforming the benchmark Sensex index which finished up 0.14 per cent breaking a six-day losing streak.