ICICI Bank Q1FY23: Net jumps 49.5% YoY to Rs 6,904 cr on strong NII growth

ICICI Bank on Saturday reported a 49.5 per cent year-on-year rise in net profit in April-June to Rs 6,904.94 crore as a healthy increase in loan growth boosted the private bank’s bottomline.

On a sequential basis, however, ICICI Bank’s net profit decreased 1.6 per cent from Rs 7,018.71 crore at the end of the January-March quarter.

In the first quarter of the current financial year, ICICI Bank’s net interest income (NII) clocked in Rs 13,210.02 crore, up 20.1 per cent from a year ago. Net interest income is the difference between the interest earned and the interest expended.

For the