ICICI Bank logs a 30% rise in YoY net profit of Q2 FY2021-22

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Mumbai: Private sector lending major ICICI Bank on Saturday reported a rise of 30 percent in its year-on-year standalone net profit for the second quarter of FY 2021-22.

On a standalone basis, the profit after tax grew to Rs 5,511 crore compared to Rs 4,251 crore in Q2FY21.

Similarly, the bank’s net interest income (NII) rose during the quarter under review. It grew by 25 percent to Rs 11,690 crore in Q2FY22 from Rs 9,366 crore in Q2FY21.

“The net interest margin increased to 4 percent in Q2 2022 from 3.89 percent in the quarter ended June 30, 2021 (Q1-2022) and 3.57 percent in Q2-2021,” the bank said in a statement.

“Non-interest income, excluding treasury income, increased by 26 percent year-on-year to Rs 4,400 crore in Q2-2022 from Rs 3,486 crore in Q2-2021.”

Besides, the bank’s provisions (excluding provision for tax) declined by 9 percent year-on-year to Rs 2,714 crore in Q2FY22 from Rs 2,995 crore in Q2FY21.

Source:- IANS