ICICI Bank, India’s second-largest private lender, reported a robust 23.6% YoY growth in Q3 net profit, reaching Rs 10,272 crore, beating analysts’ expectations. The bank’s performance was driven by a 13.4% YoY growth in net interest income (NII) at Rs 18,678 crore. Although the net interest margin (NIM) saw a YoY decline of 23 basis points to 4.43%, the asset quality improved, with gross NPA ratio decreasing to 2.30%. The bank observed healthy domestic credit growth at 18.8% YoY, and retail, business banking, SME, and rural portfolios showed positive trends during the quarter.
ICICI Bank Surpasses Estimates with 23.6% YoY Rise in Q3 Net Profit at Rs 10,272 Crore
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