2024-01-20 13:13:08
Samayam Tamil
ICICI Bank, one of the erstwhile private banks, has released its December quarter financial statement. The bank’s consolidated net profit rose 25.7 percent to Rs 11,052.60 crore in the December quarter. It was Rs 8,792.42 in the same quarter last year.
And the bank’s net interest income (NII) rose 13.4 percent year-on-year (YoY) to Rs 18,678 crore in the quarter under review, as against Rs 16,465 crore in the same quarter last year. This resulted in net interest margin declining by 20 bps to 4.43 percent in the current fiscal (Q3FY24) from 4.65 percent in the corresponding quarter last fiscal. And net interest margin in 9 months was recorded at 4.57 percent.
Core operating profit rose 12.5 per cent to Rs 16,162.31 crore in the current fiscal quarter (Q3FY24) from Rs 14,369.71 crore in the corresponding period last year. Including profits for the nine months ended December 31, 2023, the bank’s total capital adequacy ratio as on December 31, 2023 was 16.70 per cent. , the CET-1 ratio was reported at 16.03 percent as compared to the minimum regulatory requirements of 11.70 percent and 8.20 percent respectively. Meanwhile, the bank’s consolidated assets rose 17 per cent to Rs 22,08,018 crore in Q3FY24 from Rs 18,87,209 crore in Q3FY23. ICICI Bank shares are trading at Rs 1,011.50 today, up 2.55%.
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