India's largest private sector bank ICICI Bank said its standalone profit increased by 16.76% to Rs 26.55 billion for the quarter ended Jun. 30, 2014 from Rs 22.74 billion in the same period last year. Total income was at Rs 146.17 billion, an increase of 13.26% over Rs 129.05 billion for the same quarter, a year ago.
On consolidated basis, the bank has posted a growth of 3.08% in net profit to Rs 28.32 billion for the quarter ended Jun. 30, 2014. Quarterly income was at Rs 200.98 billion, an increase of 9.51% over Rs 183.51 billion for the same quarter, a year ago.
Net interest margin improved to 3.40% in Q1-2015 compared to 3.27% in Q1-2014. Provisions were at Rs 7.26 billion in Q1-2015 compared to Rs 5.93 billion in Q1-2014.
Net interest income increased 18% to Rs 44.92 billion in Q1-2015 from Rs 38.20 billion in Q1-2014.
Total advances increased by 15% year-on-year to Rs 3470.67 billion at Jun. 30, 2014 from Rs 3013.70 billion at Jun. 30, 2013. The year-on-year growth in domestic advances was 17%.
At Jun. 30, 2014, savings account deposits increased by 16% year-on-year to Rs 1027.36 billion while current account deposits increased by 13% year-on-year to Rs 416.78 billion. The bank's CASA ratio was 43.0% at June 30, 2014.
The bank's capital adequacy at June 30, 2014 as per Reserve Bank of India's guidelines on Basel III norms was 17.00% and Tier-1 capital adequacy was 12.23%, well above regulatory requirements.
Net non-performing assets at June 30, 2014 were Rs 34.74 billion compared to Rs 33.01 billion at Mar. 31, 2014 and Rs 24.72 billion at Jun. 30, 2013.
