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ICICI net profit up 40% at ₹9,648 cr
The Morning Standard
|July 23, 2023
Growth driven by higher interest income and loan growth; NII rises 38% to ₹18,227 crore
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BEATING the analyst’s expectations, ICICI Bank, country’s second-largest private lender, on Saturday reported 40% rise in net profit to ₹9,648 crore in the quarter ended June this year, driven by higher interest income and loan growth. The bank had posted ₹6,905 crore net profit in the same quarter the previous year.
Net interest income, the difference between interest earned and paid, rose 38% to ₹18,227 crore in during the first quarter from ₹13,210 crore in the corresponding quarter of previous year.
This story is from the July 23, 2023 edition of The Morning Standard.
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