Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

ICICI Bank Q3 Profit Down 3 Per Cent at Rs 1,605 Crore

The bank's asset quality improved slightly with gross non-performing assets (NPAs) falling to 7.75 per cent of gross loans at December-end 2018 compared to 7.82 per cent a year

PTI

Updated:January 30, 2019, 7:16 PM IST
facebookTwitterskypewhatsapp
ICICI Bank Q3 Profit Down 3 Per Cent at Rs 1,605 Crore
Image for Representation. (Photo: REUTERS)
Loading...

New Delhi: The country's largest private sector lender ICICI Bank on Wednesday reported 2.7 per cent decline in standalone net profit to Rs 1,604.91 crore for the third quarter ended December 2018 as provisions for bad loans increased.

The bank had registered Rs 1,650 crore net profit in the corresponding quarter of 2017-18.

The total income rose to Rs 20,163.25 crore during the quarter as compared to Rs 16,832.22 crore in the same period a year ago, ICICI Bank said in a statement.

The bank's asset quality improved slightly with gross non-performing assets (NPAs) falling to 7.75 per cent of gross loans at December-end 2018 compared to 7.82 per cent a year ago.

Net NPAs too came down to 2.58 per cent of total advances from 4.20 per cent at December-end 2017.

However, the provisions other than tax and contingencies rose to Rs 4,244.15 crore during the quarter as against Rs 3,569.56 crore in the year-ago period.

In absolute term, gross bad loans of the lender stood at Rs 51,591.47 crore as on December 31, 2018 as compared to Rs 46,038.70 crore a year ago.

Net bad loans were valued at Rs 16,252.44 crore as against Rs 23,810.25 crore in the same quarter previous fiscal.

On consolidated basis, the net profit declined marginally by 1 per cent to Rs 1,874 crore during the quarter ended December 2018 from Rs 1,894 crore in the corresponding quarter last fiscal.

Income, on consolidated basis, was higher at Rs 33,433 crore during the quarter ended December 2018-19 from Rs 28,501 crore in the year-ago period.

During the quarter, the statement said the net interest income increased by 21 per cent to Rs 6,875 crore as against Rs 5,705 crore.

Treasury income rose substantially to Rs 479 crore in the quarter compared to Rs 66 crore.

The net interest margin was 3.40 per cent in the third quarter.

ICICI Bank said the recoveries and upgrades in the quarter included Rs 720 crore on account of the impact of rupee appreciation on existing foreign currency NPAs.

Shares of the bank closed 5.29 per cent up at Rs 365.25 apiece on the BSE.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 68.55 0.88
Maruti Suzuki 6,450.30 0.91
Tata Motors 129.55 1.25
HDFC Bank 2,257.45 -0.59
Axis Bank 674.25 1.71
Company Price Change %Gain
IEX 118.10 -9.71
Yes Bank 68.60 0.96
Reliance 1,225.55 1.26
Tata Motors 129.55 1.25
Maruti Suzuki 6,449.80 0.91
Top Gainers
Company Price Change %Gain
BPCL 408.55 6.34
IOC 130.10 4.58
Titan Company 1,123.40 3.43
GAIL 129.25 2.78
ICICI Bank 413.40 2.66
Company Price Change %Gain
Vedanta 149.20 2.72
ICICI Bank 413.25 2.61
ONGC 128.80 2.34
Kotak Mahindra 1,483.55 1.79
Axis Bank 674.35 1.74
Top Losers
Company Price Change %Gain
Bharti Airtel 343.05 -1.29
Dr Reddys Labs 2,731.55 -1.28
Sun Pharma 422.85 -1.16
HDFC Bank 2,257.45 -0.59
ITC 239.90 -0.35
Company Price Change %Gain
Bharti Airtel 342.75 -1.35
Sun Pharma 423.25 -1.04
HDFC Bank 2,256.25 -0.62
ITC 239.95 -0.35
HUL 1,804.80 -0.10

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results