ICICI Bank Q4 profit at Rs 969 crore, falls 5% on higher expenses

The lender's net profit was Rs 969 crore for the March quarter against Rs 1,020 crore in the year-ago quarter

Private lender ICICI Bank saw a 5 per cent fall in net profit for the quarter ended March 2019 (Q4) to Rs 969 crore. This was due to higher operating expenses and treasury income plunging to Rs 156 crore versus Rs 2,685 crore a year-ago padded with Rs 3,320 crore of profit from stake sale in ICICI Securities.

That aside, net interest income (NII) grew by 27 per cent at Rs 7,620 crore in Q4. Net interest margins (NIM or a measure of profitability) rose to 3.72 per cent for from 3.4 per cent a year-ago. Yet, these numbers lagged