Private lender ICICI Bank on Saturday reported a standalone net profit of ₹4,251 crore for the quarter ending 30 September, 2020.
In the same period it is Rs 655 Crore a year ago
About ICICI Bank
ICICI Bank Limited is an Indian multinational banking and financial services company with its registered office in Vadodara, Gujarat and corporate office in Mumbai, Maharashtra.
It offers a wide range of banking products and financial services in the areas of investment banking, life, non-life insurance, venture capital and asset management.
The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.
Net Interest Income
Net interest income (NII) increased by 16% year-on-year to ₹9,366 crore.
Earlier it was Rs 8,057 crore in the same Quarter
Total Deposits
Total deposits grew by 20% year-on-year to ₹8,32,936 crore at September 30, 2020.
The average current and savings account (CASA) deposits grows by 17%
Term deposits grew by 26% year-on-year
Total Loans
Domestic loans grew by 10% year on year and 4% quarter on quarter at September 30, 2020.
Domestic loans grew by 10% year on year and 4% quarter on quarter at September 30, 2020.
Non-Performing Assets
Asset quality improved during the quarter with gross non-performing assets at ₹38,989 crore.
Compare to last year same quarter it was ₹45,638 crore
Non-Performing Assets Ratio
Net non-performing asset (NPA) ratio decreased from 1.23% at June 30, 2020 to 1.00% at September 30, 2020
Mortgage disbursements
Mortgage disbursements during Q2-2021 crossed pre-Covid levels and reached an all-time monthly high in September 2020
Auto Loan disbursements
Auto loan disbursements also continued to increase from June 2020 and have reached pre-Covid levels in September 2020
Credit Card dues
Credit card spends recovered to about 85% of pre Covid levels in September 2020
Bad Loans
The bank added fresh bad loans of ₹3,017 crore.
Provisions
provisions for bad loans
Total provisions for bad loans and contingencies rose to ₹2,995.27 crore from ₹2,506.87 crore a year ago in same quarter
Covid 19 related provisions
The bank held Covid-19-related provisions of ₹8,772 crore at September 30, 2020.
However the Bank has made an additional Covid-19 related provision amounting to ₹5,550.00 crore during 1st quarter
Contingency Provision
The Bank has made contingency provision of ₹497.30 crore for borrower accounts.
This were not classilied as non-performing pursuant as of interim order of the Supreme Court.
