ICICI Bank back in the black, Q1 net profit at ₹1908 crore
The bank’s profit was lower than ₹2085 crore estimated by a Bloomberg poll of 21 analysts
It saw improvement in asset quality as its gross NPAs as a percentage of gross advances declined 232 bps to 6.49%, and the net NPA ratio stood at 1.77%, down 242 bps from a year ago
Mumbai: ICICI Bank on Saturday reported a standalone net profit of ₹1,908 crore in the June quarter of FY20, against a loss of ₹120 crore in the same period last year, owing to higher net interest income (NII) and lower provisions. The bank’s profit was lower than ₹2,085 crore estimated by a Bloomberg poll of 21 analysts.