May 9, 2020 INDIA :ICICI Bank on Saturday reported a 26 per cent rise in standalone net profit at Rs 1,221 crore for the quarter ended March 2020 On the assets front, gross non-performing assets (NPAs) stood at 5.53 per cent of gross advances as on March 31, 2020, compared to 6.70 per cent last year Net NPAs or bad loans were trimmed to 1.41 per cent as against 2.06 per cent.
The Board of Directors of ICICI Bank Limited) at its meeting held at Mumbai today, approved the audited
standalone and consolidated accounts of the Bank for the year ended March 31, 2020.
Profit & loss account
The core operating profit (profit before provisions and tax, excluding
treasury income) increased by 18% year-on-year to ₹ 7,148 crore (US$
945 million) in Q4-2020 from ₹ 6,077 crore (US$ 803 million) in Q4-2019.
The interest on income tax refund was ` 27 crore (US$ 4 million) in Q4-
2020 compared to ` 414 crore in Q4-2019 (US$ 55 million). Excluding the
interest on income tax refund, core operating profit grew by 26% yearon-
year in Q4-2020
On a standalone basis, the profit after tax grew by 26% year-on-year to
` 1,221 crore (US$ 161 million) in Q4-2020 from ₹ 969 crore (US$ 128
million) in Q4-2019. Excluding Covid-19 related provisions, the profit
after tax would have been ` 3,260 crore (US$ 431 million) in Q4-2020
