ICICI Bank posts 34% rise in Q3 PAT to ₹8,312 cr, NII surges by 35%

ICICI Bank announced its financial results for the third quarter ending December 31, 2022 (Q3FY23) period on Saturday. The bank beats street expectations by garnering a net profit of 8,311.85 crore in Q3 of the current fiscal compared to a profit of 6,193.81 crore recorded in the same quarter a year ago, registering a growth of whopping 34.19% year-on-year. While gross NPA in the Q3FY23 dipped further, however, provisions scaled up during the quarter.

In September 2022 quarter, the bank posted a net profit of 7,558 crore up by 37% YoY, while net interest income (NII) jumped by 26% YoY to 14,787 crore. Net interest margin stood at 4.31% in Q2FY23.

On BSE, ICICI Bank shares closed at 870.40 apiece on Friday up 0.47%. The bank is the fourth largest company in terms of market share on the exchange. As of January 20, the bank’s valuation stood over 6.07 lakh crore.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *