Finance
By: Shree1news, 31 OCT 2020
Net interest income, or the distinction between interest earned and interest expended, elevated 16 per cent on annual foundation to Rs 9,366 crore in Q2 FY21 from Rs 8,057 crore in Q2 FY20
ICICI Bank
posted standalone revenue after tax of Rs 4,251 crore within the quarter ended September 31, 2020, versus Rs 655 crore within the year-ago interval. This quantities to greater than six-fold enhance in web revenue in the course of the quarter below evaluate.
Core operating profit, or profit before provisions and tax, excluding treasury revenue, of ICICI Bank in the course of the September quarter this fiscal elevated by 18 per cent year-on-year to Rs 7,719 crore from Rs 6,533 crore within the corresponding quarter final yr.
Net interest income (NII), or the distinction between curiosity earned and curiosity expended, elevated 16 per cent on annual foundation to Rs 9,366 crore in Q2 FY21 from Rs 8,057 crore in Q2 FY20. Net interest margin was 3.57 per cent in Q2 FY21 in comparison with 3.69 per cent in Q1 FY21 and three.64 per cent in Q2 FY20, reflecting surplus liquidity with the financial institution.
ICICI Bank made provisions (excluding provision for tax) value Rs 2,995 crore in Q2 FY21 in comparison with Rs 2,507 crore in Q2 FY20. This contains provision of Rs 497 crore made on a prudent foundation on loans amounting to Rs 1,410 crore that weren’t labeled as non-performing property (NPAs) following a Supreme Court docket interim order dated September 3, 2020, directing that accounts labeled as commonplace until August 31, 2020, shouldn’t be labeled as NPAs till additional orders. The bank additionally made COVID-19-related provisions value Rs 8,772 crore in the course of the September quarter this fiscal.
Source: A-N
