On credit growth, ICICI Bank saw 16 percent year-on-year growth in domestic advances during the December quarter this fiscal. The personal loan provider’s retail loan portfolio increased 19 percent on yearly basis during the quarter under evaluation. Overall advances increased by 13 per cent year-on-year to Rs 6,35,654 crore at December 31, 2019, from Rs 5,64,308 crore at December 31, 2018. READ: Bank of Baroda posts loss of Rs 1,407 crore in December quarter Asset quality improved throughout the quarter as net non-performing possessions (NPAs) decreased by 36 per cent to Rs 10,389 crore in Q3 FY20 from Rs 16,252 crore in Q3 FY19. The net NPA ratio decreased to 1.49 percent at December 31, 2019 from 2.58 per cent at December 31, 2018. “The bank’s total capital adequacy at December 31, 2019, based on Reserve Bank of India’s standards on Basel III norms, including profits for 9M FY20, was 16.50 percent and Tier-1 capital adequacy was 14.98 percent compared to the minimum regulatory requirements of 11.08 per cent and 9.08 per cent, respectively,” ICICI Bank said in its statement. ALSO READ: JSW Steel Q3 net earnings tanks 88% to Rs 187 crore Net interest earnings (NII), the difference in between interest earned and interest used up, increased by 24 per cent on yearly basis to Rs 8,545 crore in Q3 FY20 from Rs 6,875 crore in Q3 FY19, said ICICI Bank in a filing to the stock exchanges. Operating revenue increased 22.8 per cent throughout Q3 FY20 to Rs 7,548 crore, as compared to Rs 6,146 crore in the year-ago period. Asset quality enhanced throughout the quarter as net non-performing assets (NPAs) reduced by 36 per cent to Rs 10,389 crore in Q3 FY20 from Rs 16,252 crore in Q3 FY19.
ICICI Bank Q3 results: Private sector lending institution ICICI Bank posted a tremendous 158.36 per cent profit during the quarter ended December 31, 2019 as arrangements cut in half. The bank reported a standalone net profit of Rs 4,146.46 crore throughout the quarter under review, rather than Rs 1,604.91 crore signed up in the year-ago period. Net interest income (NII), the distinction between interest earned and interest used up, increased by 24 percent on annual basis to Rs 8,545 crore in Q3 FY20 from Rs 6,875 crore in Q3 FY19, said ICICI Bank in a filing to the stock exchanges. The net interest margin was 3.77 per cent in December quarter this fiscal, compared to 3.64 per cent in the quarter ended September 30, 2019, and 3.40 percent in Q3 FY19. Operating profit increased 22.8 percent throughout Q3 FY20 to Rs 7,548 crore, as compared to Rs 6,146 crore in the year-ago duration. Arrangements (excluding taxes) decreased by 51 per cent year-on-year to Rs 2,083 crore in Q3 FY20 from Rs 4,244 crore in Q3 FY19 ALSO READ: Zee Entertainment share price falls 4% on decline in Q3 net earnings ICICI bank’s overall deposits increased by 18 percent year-on-year to Rs 7,16,345 crore during the December quarter this fiscal. Typical current and savings account (CASA) deposits increased by 15 per cent year-on-year during the quarter under evaluation. As on December 31, 2019, the period-end CASA ratio was 47 percent. Term deposits increased by 24 per cent year-on-year to Rs 3,79,936 crore throughout Q3 FY20.