Improvement in asset quality led ICICI Bank to report a consolidated net profit of Rs 2,513.69 crore for the June quarter on Saturday, against Rs 4.93 crore profit in the year-ago period.
On a standalone basis, the second largest private sector bank by assets reported a net profit of Rs 1,908 crore against a Rs 119 crore loss for June 2018.
The bank's core net interest income grew 26.8 per cent to Rs 7,737 crore on expansion in net interest margin to 3.61 per cent from 3.19 per cent in the year-ago period and an 18 per cent credit growth fuelled by