Mumbai: Private sector banking major, ICICI Bank has clocked a net profit of Rs 620.01 crore in Q1 FY 07 as against Rs 530.01 crore in the previous corresponding period last fiscal.
ICICI Bank’s total income shot up to Rs 6,316.19 crore in the quarter ended on June 30, 2006 as compared to Rs 4,206.49 crore in the same period last financial year.
The profits were mainly driven by a handsome increase in both net interest income and fee-based income at Rs 1,475 crore, up 52 per cent, and Rs 985 crore, up 50 per cent, respectively, ICICI Bank Joint Managing Director Kalpana Morparia said.
Net interest margin (NIM) stood at 2.5 per cent as against 2.6 per cent in the same period last fiscal.
However, treasury income slid by 52 per cent in comparison to the previous corresponding quarter while overall retail assets increased by 59 per cent to Rs 98,687 crore.
Deposits of the bank increased by 61 per cent at Rs 1,83,006 crore.
The bank's capital adequacy ratio stood at 12.5 per cent while, when computed as per BASEL II norms, it stood at 12.8 per cent, Morparia said.
The bank has also fared well on the NPA front with its net NPAs declining from 2 per cent to 0.8 per cent of customer assets as on June 30, 2006.
Going forward, Morparia said that the bank would maintain the strong growth momentum with fee-based business and agri-business likely to contribute more to the bank's kitty.
Comments
0 comment