ICICI Bank posted a 5.2% growth in net profit at Rs 12,359 crore for the quarter ended September, beating Bloomberg estimates of Rs 12,197 crore. Lower provisions aided the bank’s net profit in the quarter. However, the net profit fell 3.2% on a sequential basis. The provisions were down 26% to Rs 914 crore in Q2 from Rs 1,233 crore year ago. The bank’s total income stood at Rs 49,333 crore in Q2 from Rs 47,714 crore.

The fall in provisions has offset the low treasury income. The hardened bond yields during the period has impacted the lenders’ treasury income. The private lender reported a significant decline in treasury income to Rs 220 crore compared to Rs 680 crore in the year-ago quarter.

On the liability front, the bank’s average deposits grew 9.1% on year to Rs 15.57 lakh crore

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