The bank's net profit for the quarter stood at Rs 2,025 crore as compared to Rs 702 crore reported in the same period last year.
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Mumbai: Private sector lender ICICI Bank on Wednesday reported a 189 per cent jump in its net profit after tax (PAT) for the quarter ended March 2017 on the back of strong growth in net interest income and drop in provisions.
The bank’s net profit for the quarter stood at Rs 2,025 crore as compared to Rs 702 crore reported in the same period last year. The net interest income increased by 10 per cent to Rs 5,962 crore while its fee income increased 11 per cent to Rs 2,446 crore.
While stating that the additions to non performing loans has been gradually declining since June 2016, the bank said fresh NPAs rose during the March quarter due to one account in the cement sector amounting to Rs 5,378 crore.
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