China’s central bank buys stake in ICICI Bank
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Expansion
ICICI Bank’s second quarter results are out. The profit of the country’s second largest private sector bank has jumped 37 per cent year-on-year. The net interest income of the bank has increased by 26.5 percent. There has also been a good decline in the NPAs of the bank. The bank’s standalone profit stood at Rs 7558 crore in the September quarter as against Rs 5511 crore in September 2021. The net interest income of the bank has become Rs 14,787 crore, it was Rs 11690 crore last year.
The overall loan portfolio of the bank has grown by 23 per cent. Deposits have also increased by 12 per cent. ICICI Bank’s total deposits have reached Rs 10.9 lakh crore. The retail loan segment has grown by 25 per cent year-on-year. Retail loans account for 54 per cent of the total loan book. Bank’s banking business has grown by 44 per cent year-on-year.
The asset quality of the bank has also improved. There has been a decline of 22 basis points in gross NPAs and it is 3.19 percent. In the second quarter, the bank has written off loans of 1103 crores.
Yes Bank’s profit down by 32.2%, income up to Rs 6394.11 crore
Yes Bank has released the results for the second quarter of the financial year 2022-23 which ended on 30 September 2022. The bank’s standalone profit during the period fell by 32.2 year-on-year to Rs 152.8 crore. The profit of the bank stood at Rs 225.50 crore in the corresponding period of last financial year.
Let us inform that in the first quarter of the current financial year, the profit of the bank was Rs 310.63 crore. In the second quarter of the financial year 2022-23 ended September 30, 2022, the total income of the bank has increased from Rs 5430.30 crore to Rs 6394.11 crore on a year-on-year basis.