ICICI Bank This fall standalone revenue surges 261%

Private-sector lender ICICI Bank on Saturday reported an enormous 261 per cent year-on-year progress in standalone revenue at Rs 4,403 crore for the quarter ended March 2021 as in opposition to Rs 1,221.4 crore in the identical interval of final 12 months.
Net curiosity revenue (NII) elevated by 17 per cent year-on-year to Rs 10,431 crore from Rs 8,927 crore. The internet curiosity margin was 3.84 per cent within the newest quarter as in opposition to 3.87 per cent a 12 months in the past.
Provisions (excluding provision for tax) had been Rs 2,883 crore in This fall of FY21 in comparison with Rs 5,967 crore in This fall of FY20.
During This fall final fiscal, the financial institution utilised contingency provision amounting to Rs 3,509 crore in the direction of proforma NPAs as of December 31, 2020, as these loans have now been labeled as per the RBI pointers.
Further, the financial institution made further Covid-19-related provisions of Rs 1,000 crore throughout This fall. It held Covid-related provision of Rs 7,475 crore. The revenue earlier than tax was Rs 5,657 crore in This fall of FY21 in comparison with Rs 1,423 crore in This fall of FY20.
Gross non-performing belongings (NPAs) had been Rs 41,373 crore (4.96 per cent) in March 2021 as in opposition to Rs 41,409 crore (5.53 per cent) a 12 months in the past. During the quarter, the gross NPA additions, excluding debtors within the proforma NPAs as of December 31, 2020, had been Rs 5,523 crore.
Recoveries and upgrades, excluding recoveries from proforma NPAs, write-offs and sale, from non-performing loans had been Rs 2,560 crore in Q4FY21.
The retail mortgage portfolio grew by 20 per cent year-on-year and seven per cent sequentially at March 31, 2021. Retail loans comprised 67 per cent of the full mortgage portfolio at March 31, 2021.
Including non-fund excellent, the financial institution’s retail was 55 per cent of the full portfolio at March 31, 2021.