ICICI Bank net profit rises 25.7% to Rs 11,053 crore in Q3FY24

New Delhi: ICICI Bank on Saturday said its December quarter consolidated net profit rose 25.7 per cent to Rs 11,052.60 crore from Rs 8,792.42 crore.

standalone net profit

The second largest private sector lender reported 23.6 per cent rise in standalone net profit to Rs 10,272 crore in the third quarter of the current financial year.

The bank’s core net interest income grew 13.4 per cent to Rs 18,678 crore, with net interest margin narrowing to 4.43 per cent and domestic advances growth at 18.8 per cent.

Other income of the bank increased by 19.8 percent to Rs 5,975 crore during the quarter under review.

Its provisions declined to Rs 1,049.37 crore from Rs 2,257.44 crore in the year-ago period, helping profit growth.