ICICI bank on Saturday announced 30% increase in profits for quarter September 30, 2021, to Rs 5,511 crore. Their profit was Rs 4,251 crore a year earlier.
ICICI Bank Q2 Results:
In thier 2nd Quarter Icici bank recorded profit From Rs, 9,366 crores in Q2FY21 to Rs 11,690 crores in Q2FY22, net interest income (NII) also increased by 25% every year to Rs 11,690 crore.
The net interest margin (NIM) of ICICI, that was measure of profitability, was 4% in Q2FY22, compared to 3.89 per cent in Q2FY21 and 3.57 per cent in Q1FY22. In Q2FY22, the bank’s provision book down by 9% YoY to Rs 2,714 crore, down from Rs 2,995 crore in Q2FY21.
Let me tell you the lenders stock also closed at 0.3 per cent higher on the BSE on Friday, at Rs 759.10.
The Gross Non-performing Assets
The net non-performing asset also fell by 12% to Rupees 8161 crore on September 30 2021 it was down from 9306 crore rupees which was on June 30 2021.
On September 30, 2021, total deposits of ICICI bank increased by 17% year on year to Rs 9.7 trillion which is mind blowing growth recorded. If we check on standalone basis, the total capital adequacy ratio was 19.52 per cent and the Tier-1 capital adequacy ratio was 18.53 per cent as of September 30, 2021.
This shows how financial institutions are on the ride of growth and earning decent income and revenue growth.