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1-min read

ICICI Bank Shares Rise over 3 Percent a Day after it Sacked Chanda Kochhar

The country's largest private sector lender ICICI Bank on Wednesday reported improvement in its asset quality 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.

PTI

Updated:January 31, 2019, 12:34 PM IST
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ICICI Bank Shares Rise over 3 Percent a Day after it Sacked Chanda Kochhar
ICICI Bank headquarters in Mumbai. (Image: Reuters/Danish Siddiqui/File Photo)

New Delhi: Shares of ICICI Bank rose by over 3 per cent on Thursday after its asset quality improved in the December 2018 quarter.

Shares of the bank gained 3.10 per cent to Rs 376.60 on BSE. On the NSE, it rose by 2.93 per cent to Rs 376.65.

The country's largest private sector lender ICICI Bank on Wednesday reported improvement in its asset quality 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.

The bank posted a 2.7 per cent decline in standalone net profit to Rs 1,604.91 crore for the third quarter ended December 2018.

It 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.

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

Also, an independent enquiry panel on Wednesday indicted former ICICI Bank chief Chanda Kochhar for violating regulations, with the bank deciding to stop all her unpaid retirement benefits and recover bonuses paid since 2009.

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| Edited by: Anu Parthiban
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