July25, 202
ICICI Bank on Saturday reported a 36 per cent increase in its standalone net profit at Rs 2,599 crore for the first quarter ended June 2020.
The bank had posted a profit of Rs 1,908 crore in the same quarter a year ago.
Total income during the quarter rose to Rs 26,066 crore from Rs 21,405.50 crore a year earlier, the bank said in a regulatory filing.
On a consolidated basis, its net profit for the April-June period improved by 24 per cent at Rs 3,117.68 crore as against Rs 2,513.69 crore in the corresponding quarter of the previous fiscal.
The bank’s income on a consolidated basis rose to Rs 37,939.32 crore in the said quarter from Rs 33,868.89 crore in April-June 2019.
The lender witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 5.46 per cent of the gross advances by the end of June 2020, from 6.49 per cent a year ago.
Net NPAs were 1.23 per cent, down from 1.77 per cent a year ago.
However, the provisioning for bad loans and contingencies doubled to Rs 7,593.95 crore for April-June, as against Rs 3,495.73 crore a year earlier.
