ICICI Bank Q3 net raises 30 percent on rise in interest income

ICICI Bank Q3 net raises 30 percent on rise in interest income. The country’s largest private sector lender ICICI Bank today reported a 30 per cent jump in net profit for the October to December quarter at Rs 2,250 crore.

Chanda KochharThe profit was backed by strong advances and higher interest income.

The bank had posted a net profit of Rs 1,728 crore in the same quarter last fiscal.

Net interest income (difference between interest earned and expended) rose 29 per cent to Rs 3,499 crore (from Rs 2,712 crore in Q3FY12). Non-interest income increased 17 per cent to Rs 2,215 crore (from Rs 1,892 crore).

Net interest margins improved by 37 basis points to 3.07 per cent from 2.70 per cent in Q3FY12.

As on December 31, 2012, total advances grew by 16 per cent year-on-year to Rs 2.86 lakh crore.

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ICICI Bank Q3 Report

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