ICICI Bank earns highest revenue thus far, 158% improve

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

New Delhi. ICICI Bank, the nation's largest non-public sector financial institution, has declared the outcomes for the third quarter of its present monetary 12 months i.e. October-December quarter. The financial institution now has the best revenue in any quarter. The financial institution made a revenue of Rs 4146.5 crore within the final three months of final 12 months, which is the best ever in any quarter of ICICI Bank's historical past. Not solely this, on a year-on-year foundation, the financial institution's October-December quarterly revenue registered a robust progress of 158%. ICICI Bank had a revenue of Rs 1605 crore in the identical quarter of 2018-19. <! –

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                 For the knowledge, tell us that behind such a robust revenue, the financial institution has a lump sum profit from the supply of Essar Steel, because of which there was a robust fall in its provision.

Provision lowered, restoration of unhealthy mortgage

During October-December, ICICI Bank recovered Rs 4146 crore of unhealthy loans ie unhealthy loans. At the identical time, its provision was lowered by 51 p.c to Rs 2,083 crore from Rs 4244 crore. Provision is made for stranded loans. Loans inserted below the supply may also be sunk. Looking on the financial institution's internet curiosity earnings, it stood at Rs 8545 crore with a robust progress of 24 per cent towards Rs 6875 crore.

Loans elevated, NPA declined

Despite the weak financial circumstances within the nation, the home mortgage progress of ICICI Bank elevated by 16%. Among them, retail mortgage progress was 19 p.c. The financial institution's NPA ratio improved. The financial institution's NPA ratio declined from 2.58 per cent to 1.49 per cent. The financial institution's charge earnings grew by 17 p.c to Rs 3596 crore and treasury earnings by 11 p.c to Rs 531 crore from Rs 479 crore.

– Larsen & Toubro's revenue of Rs 2,352 crore, however lower than the estimate

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