Business Standard

ICICI Bank June quarter net profit up 36.2 per cent to Rs 2,599 crore

To offload 4% stake in ICICI Securities. Made Covid-19 related provisions of Rs 5,550 cr in the quarter

ICICI Bank
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The asset quality profile of bank improved during the reporting quarter. | Photo: Bloomberg

Abhijit Lele Mumbai
Private sector lender ICICI Bank has posted 14 per cent rise in profit before tax (PBT) at Rs 3,183 crore in the quarter ended June 2020 (Q1FY21) on robust growth in net interest income and monetisation of stake in subsidiaries.

It had posted a PBT of Rs 2,793 crore in quarter ended June 2019 (Q1FY20).

Its net profit for reporting quarter rose by 36.2 to Rs 2,599 crore from net profit of Rs 1,908 crore in Q1FY20.

The Net Interest Income (NII) grew by 19.9 per cent on a Year-on-Year basis from Rs 7,737 crore in Q1Fy20 to Rs 9,280 crore in Q1Fy21.

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