ICICI Bank gains more than double in third quarter, NPA also reduced
ICICI Bank gains more than double in third quarter, NPA also reduced
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Private sector ICICI Bank's single net profit has registered an increase of more than 2.5 times in the December quarter. Apart from this, the bank may have a net profit of Rs 4,146.46 crore in the third quarter of the current financial year. With this, its single net profit was Rs 1,604.91 crore in the October-December quarter of last year. The private sector bank has given this information to the BSE. In the same quarter, the bank recorded a growth of 17.23 per cent in its total earnings.

The bank earned Rs 23,638.26 crore in the December quarter. This figure stood at Rs 20,163.25 crore in the same quarter a year ago. ICICI Bank has issued a statement saying that the quality of assets of the bank has improved. The bank's non-performing assets (NPA) declined to 5.95 per cent in the October-December quarter. The bank's NPA stood at 7.75 per cent in the quarter ended December 2018.

Besides, the December quarter bank net NPA has come down to 1.49 per cent. Apart from this, the figure stood at 2.58 percent in December 2018. The same bank has said, "Provisions (excluding taxes) declined by 51 percent in the third quarter of FY 2019-20. It was reduced to Rs 2,083 crore in December 2019 as compared to Rs 4,244 crore in the third quarter of 2018-19. ''

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