The third quarter standalone net profit for ICICI Bank increased 34.2% year over year to 8,312 crores, supported by an increase in net interest income (NII) and expansion of its loan portfolio.
Core operational profit for the bank, which excludes treasury income and is defined as profit before provisions and taxes, climbed by 31.6% to 13,235 crores. NII increased by 34.6% to Rs. 16,465 crores.
Over 3.96% to 4.65%, the net interest margin increased from the same time last year. The total loan portfolio increased by 19.7% year over year, with domestic loans growing by 21.4%.
This news was written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.