Home Business ICICI Financial institution Q1 revenue zooms 50% to Rs 6,905cr

ICICI Financial institution Q1 revenue zooms 50% to Rs 6,905cr

ICICI Financial institution Q1 revenue zooms 50% to Rs 6,905cr

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NEW DELHI: ICICI Bank on Saturday reported a 50 per cent soar in standalone web revenue to Rs 6,905 crore within the first quarter of the present fiscal, aided by a decline in unhealthy loans.
The second greatest non-public sector financial institution had posted a web revenue of Rs 4,616 crore in the identical quarter of the earlier monetary yr.
Whole revenue in the course of the April-June quarter of 2022-23 improved to Rs 28,336.74 crore, from Rs 24,379.27 crore in the identical quarter in FY22, ICICI Financial institution mentioned in a regulatory submitting.
Curiosity revenue too elevated to Rs 23,671.54 crore in the course of the reported quarter from Rs 20,383.41 crore within the year-ago interval.
On the asset high quality entrance, gross non-performing belongings (NPAs) declined to three.41 per cent of the gross advances as of June 30, 2022, from 5.15 per cent on June 30, 2021. Internet NPAs or unhealthy loans too slipped to 0.70 per cent from 1.16 per cent.
In consequence, provisions for unhealthy loans and contingencies greater than halved to Rs 1,143.82 crore within the quarter, as in opposition to Rs 2,851.69 crore earmarked within the year-ago quarter.
On a consolidated foundation, ICICI Financial institution reported a 55 per cent soar in web revenue to Rs 7,385 crore for the reporting quarter as in opposition to Rs 4,616 crore in the identical quarter of the earlier fiscal.

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