ICICI Bank Q2 profit falls 56 percent

Written by October 27, 2018 10:06

New Delhi: ICICI Bank on Friday reported a 55.84 per cent year-on-year decline in its standalone net profit for the quarter ended in September.

ICICI’s net profit for the second quarter of the financial year 2018-19 stood at Rs 908.88 crore, against Rs 2,058.19 crore reported during the corresponding period of the last fiscal.

ICICI’s net profit

Net interest income

“Net interest income was Rs 6,418 crore ($885 million) Q2-2019 compared to Rs 5,709 crore ($788 million) in the quarter ended on September 30, 2017 (Q2-2018),” the statement said.

The net interest margin was 3.33 per cent in Q2-2019, it said. Provisions during the quarter were down 11.3 per cent at Rs 3,994 crore compared to Rs 4,503 crore in Q2 FY18, according to the company.

Percentage of gross non-performing assets was 8.54 per cent during the quarter under review, down from 8.81 per cent first quarter of FY19.

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