Standalone net profit of the country's second largest bank ICICI in the July-September quarter increased by 14% year-on-year to ₹11,746 crore. It was ₹10,261 crore in the same quarter last year.
However, the net profit of the bank has increased by 6.21% on quarterly basis. The bank's profit in the last quarter (Q1FY25) was Rs 11,059 crore. ICICI has released the results of Q2FY25 i.e. the second quarter of the financial year 2024-25 on Saturday (26 October).
ICICI Bank's total income increased by 17.24%
In the September quarter, the total income of the bank increased by 17.24% on an annual basis to Rs 47,714 crore, which was Rs 40,697 crore in the same quarter last year. At the same time, the bank's income has increased by 3.73% on quarterly basis. The total income of the bank in the last quarter was Rs 45,997 crore.
Net interest income increased by 9.5% to ₹20,048 crore
ICICI Bank's net interest income (NII) grew 9.5% year-on-year (YoY) at Rs 20,048 crore in the September quarter. It was Rs 18,308 crore in the same quarter last year. At the same time, the net interest income of the bank has increased by 2.53% on quarterly basis. The net interest income of the bank in the last quarter was Rs 19,553 crore.
ICICI Bank shares gave 38% return in one year
A day earlier i.e. on Friday, ICICI Bank shares closed at Rs 1,259 with a rise of 0.55%. With this the market cap of the company has become Rs 8.85 lakh crore. In the last six months, the bank's shares have given 13.69% returns to its investors. The bank's shares have risen 38.62% in one year.
ICICI Bank was established in 1955
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai. It was established in 1955 on the initiative of the World Bank, the Government of India and the Indian Industry Representative.
In 1999, ICICI became the first Indian company and the first bank in non-Japan Asia to be listed on the New York Stock Exchange. The Chief Executive Officer i.e. CEO of ICICI Bank is Sandeep Bakshi.
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