ICICI Bank, India's largest private lender, reported a 21.8 per cent increase in consolidated profit after tax at Rs 1,395 crore in Q2FY11 as against Rs 1,145 crore in Q2FY10.
The current and savings account (CASA) ratio increased to 44 per cent as on September 30, 2010 from 36.90 per cent as on September 30, 2009.
The net non-performing asset ratio declined to 1.37 per cent as on September 30, 2010 from 2.19 per cent as on September 30, 2009.
During the quarter, the bank received approval of Reserve Bank of India (RBI) for merger of Bank of Rajasthan. The merger was effective from the close of business of August 12, 2010.
Meanwhile, the bank earned an interest of Rs 6,309.10 crore in the quarter ended September 30, 2010, against Rs 6,656.94 crore for the corresponding quarter of the previous fiscal. Interest expended for Q2FY11 was pegged at Rs 4,104.72 crore, against Rs 4,620.87 crore for the same period of the previous financial year.
According to the bank release, the financials for Q2FY11 include the financials for erstwhile Bank of Rajasthan for the period August 13, 2010 to September 30, 2010 (49 days).
"At the merger date, Bank of Rajasthan had total assets of Rs 15,596 crore, advances of Rs 6,528 crore and deposits of Rs 13,483 crore including CASA deposits of Rs 4,680 crore," said the release.
Shares of ICICI Bank gained around three per cent on the National Stock Exchange after the results were made public. At 2.20pm, the shares were trading at Rs 1,121.30, up Rs 32.25.