Friday, October 30, 2009

ICICI Bank's second quarter net up 2.6 percent

The country's largest private lender ICICI Bank Friday said its net profit increased a marginal 2.6 percent for the quarter ended Sep 30 to Rs.1,040 crore ($216 million) compared to the like quarter last fiscal.

However, it was up 18 percent over that registered in the first three months this fiscal.

Total income decreased to Rs.8,481 crore for the quarter under review from Rs.9,712 crore in the like quarter of 2008-09.

The group's consolidated net profit was up 76 percent to Rs.1,145 crore in the second quarter from Rs.651 crore in the corresponding period last financial year.

On the other hand, consolidated income decreased from Rs.15,590 crore in the quarter ended Sep 30, 2008 to Rs.14,596 crore in the second quarter this fiscal.

The bank said its net interest income had fallen owing to a decline in advances of overseas branches and moderation in credit growth.
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