Saturday, October 27, 2018

ICICI Bank posts profit in Q2, asset quality improves

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ICICI Bank has posted profit in Sept quarter as against loss posted in June quarter.

Net profit for the quarter stood at Rs 909 Cr. In the previous quarter the bank reported a net loss of of Rs 1200 Cr.

Net interest income rose by 12 per cent to Rs 6418 Cr for the quarter as compared with Rs 5709 Cr in the year-ago quarter.

Net interest margin stood at 3.33 per cent, compared to 3.27 per cent in the year-ago period. In the June quarter, it was 3.19 per cent.

The gross non-performing asset ratio for the quarter stood at 8.54 per cent and  it was lower over the previous quarter’s ratio of 8.81 per cent.

The stock closed at Rs 314, down Rs 6 in Friday's trade.

The stock should react positively in Monday's trade.

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