ICICI Bank posts 30% growth in net profit at Rs 1,956 crore

Published: 27th October 2012 10:16 AM  |   Last Updated: 27th October 2012 10:47 AM   |  A+A-

Bolstered by robust loan growth and other income, ICICI Bank on Friday reported a 30 per cent year-on-year jump in its standalone net profit to `1,956 crore for the quarter ended September 30.

On a consolidated basis, net profit of the country’s largest private sector bank during the quarter under review grew 20 per cent to Rs 2,390.37 crore from Rs 1,991.68 crore a year ago.

ICICI Bank MD and CEO Chanda Kochhar attributed the strong bottomline numbers to the strong dividend income from its subsidiaries like insurance and broking among others apart from good retail-driven advances.

The rise in net profit was also helped by higher trading income, which surged to Rs 172 crore in the quarter against a loss of Rs 21 crore in the year ago period. 

“Going forward, we do not expect any pressure on our asset quality. We would grow our loan book by 20% in 2012-13. We will continue to expand our retail loans as the consumption demand remains intact and people are still buying homes and cars,” she said.

Net interest income or the difference between interest earned and paid out, grew 35% to Rs 3,371 crore.


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