Home >Companies >Company Results >ICICI Bank Q2 net profit declines 28% to 655 cr
(Photo: Bloomberg)
(Photo: Bloomberg)

ICICI Bank Q2 net profit declines 28% to 655 cr

  • The private lender's bottomline was hurt by a higher tax expense of 3,712 crore
  • Asset quality improves during the quarter

New Delhi: ICICI Bank reported 28% drop in net profit at 655 crore for the quarter ended September 2019. It was 909 crore in the same period a year ago.

The private lender's bottomline was hurt by a higher tax expense of 3,712 crore.

Asset quality improved with gross non-performing assets (NPAs) at 6.37% compared to versus 6.49% in June quarter and 8.54% in the corresponding quarter a year ago.

Net NPA also improved to 1.6% as against 1.77% in Q1FY20.

The bank remains well-capitalised with a capital adequacy ratio of 16.14% at the end of September.

The net interest income rose 25% to 8,057 crore as against 6,417 crore in the year-ago period.

On Friday, the ICICI Bank stock on BSE closed 3.1% higher at 469.10.

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