Mumbai, Oct 31 : Private sector lending major ICICI Bank on Saturday reported an exponential rise in standalone net profit for the second quarter of 2020-21.
Accordingly, the lender’s net profit rose to Rs 4,251 crore ($576 million) in the quarter ended September 30, 2020 from Rs 655 crore ($89 million) reported for the corresponding quarter of the previous fiscal.
“Core operating profit (profit before provisions and tax, excluding treasury income) grew by 18 per cent year-on-year to Rs 7,719 crore ($1 billion) in Q2-2021,” the bank said in a statement.
“Total deposits grew by 20 per cent year-on-year to Rs 832,936 crore ($112.9 billion) on September 30, 2020,” it added.
According to the lender, net interest income (NII) increased by 16 per cent year-on-year to Rs 9,366 crore ($1.3 billion) in Q2-2021 from Rs 8,057 crore ($1.1 billion) in Q2-2020.
The domestic loans grew by 10 per cent year-on-year and 4 per cent quarter-on-quarter for the quarter ended September 30, 2020.
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