ICICI Bank reports highest ever quarterly net profit of Rs 5,511 cr in Q2

Asset quality of the lender improves; net interest margin rises to 4%

Private sector lender ICICI Bank on Saturday reported a 30 per cent year-on-year jump in net profit in the July-September quarter (Q2FY22), aided by robust net interest income (NII) and other income as well as lower provisions. 

The bank posted its highest ever quarterly net profit of Rs 5,511 crore in the reporting period, beating street estimates, as against Rs 4,251 crore in the same period last financial year. Bloomberg had estimated a net profit of Rs 5,441 crore for the quarter.

NII of the lender rose 25 per cent to Rs 11,690 crore in the same period and non-interest income was