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.
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