ICICI Bank Net Profit Jumps 25.7% To ₹11,053 Cr In Q3FY24

ICICI Bank Net Profit Jumps 25.7% To ₹11,053 Cr In Q3FY24

The bank's other income grew 19.8 per cent to Rs 5,975 crore during the reporting quarter.

PTIUpdated: Saturday, January 20, 2024, 04:26 PM IST
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ICICI Bank Net Profit Jumps 25.7% To ₹11,053 Cr In Q3FY24 | Image: ICICI Bank (Representative)

ICICI Bank on Saturday said its consolidated net profit for the December quarter jumped 25.7 per cent to Rs 11,052.60 crore, up from Rs 8,792.42 crore.

Standalone net profit

The second largest private sector lender posted a 23.6 per cent rise in standalone net profit for the third quarter of the current fiscal to Rs 10,272 crore.

The bank's core net interest income was up 13.4 per cent to Rs 18,678 crore, on the back of net interest margin narrowing to 4.43 per cent and the domestic advances growth coming at 18.8 per cent.

The bank's other income grew 19.8 per cent to Rs 5,975 crore during the reporting quarter.

Its provisions came down to Rs 1,049.37 crore from the Rs 2,257.44 crore in the year-ago period, helping the profit growth.

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