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14 November, 2018 23:16 IST
ICICI Bank Q2 earnings fall 34% to Rs 20.58 bn
Source: IRIS | 27 Oct, 2017, 05.31PM
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ICICI Bank, one of the India's largest private sector banks, disclosed a fall in standalone net profit for the quarter ended September 2017. During the quarter, the profit of the bank fall 33.66% to Rs 20.58 billion from Rs 31.02 billion in the same quarter last year.

Total income for the quarter declined 17.56% to Rs 187.63 billion, compared with Rs 227.59 billion for the prior year period.

Decline in gross NPA additions to Rs 46.74 billion (USD 716 million) in the quarter ended September 30, 2017 (Q2-2018) compared to Rs 49.76 billion (USD 762 million) in the quarter ended June 30, 2017 (Q1-2018) and Rs 80.29 billion (USD 1.23 billion) in the quarter ended September 30, 2016 (Q2-2017).

Net NPA ratio decreased from 4.86% at June 30, 2017 to 4.43% at September 30, 2017. 410 basis points increase in provisioning coverage ratio to 59.3% (including cumulative prudential/ technical write-offs), further strengthening the balance sheet.

21% year-on-year growth in savings account deposits; CASA ratio at 49.5% at September 30, 2017. 19% year-on-year growth in retail portfolio. Net interest margin at 3.27% in Q2-2018 compared to 3.13% in Q2-2017.

Total capital adequacy of 17.89% and Tier-1 capital adequacy of 14.85% on standalone basis at September 30, 2017, including profits for half year ended September 30, 2017 (H1-2018).

Shares of the bank gained Rs 1.7, or 0.57%, to settle at Rs 300.95. The total volume of shares traded was 3,250,807 at the BSE (Friday).

I C I C I Bank Limited   (Q,N,C,F)*

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