ICICI Bank Q2 net profit jumps six-fold to Rs 4,251 crore – Times of India

NEW DELHI: Private lender ICICI Bank on Saturday posted a six-fold jump in its standalone net profit for the second quarter (Q2) ended September 2020.
The bank reported a net profit of Rs 4,251 crore in the period under consideration as against a profit of Rs 655 crore posted in the same quarter last year.
In terms of quarter-on-quarter growth, ICICI Bank posted a 64 per cent rise in net profit as compared to Rs 2,599 crore posted in June quarter.
Total deposits grew by 20 per cent year-on-year to Rs 832,936 crore ($ 112.9 billion) at September 30, 2020 whereas, domestic loans grew by 10 per cent.
The bank’s net non-performing asset (NPA) ratio decreased from 1.23 per cent in previous quarter to 1 per cent in this quarter; including loans not classified as NPA pursuant to the Supreme Court’s interim order, net NPA ratio would have been 1.12 per cent.
Additionally, the Bank held Covid-19 related provisions of Rs 8,772 crore ($ 1.2 billion) during the quarter.