ICICI Bank inventory jumps almost 2% after This autumn earnings

Shares of ICICI Bank on Monday gained almost 2 per cent after the corporate reported a 59 per cent bounce in standalone web revenue for the fourth quarter of 2021-22.

The inventory jumped 1.89 per cent to Rs 761.50 on the BSE.

At the NSE, it went up by 1.83 per cent to Rs 761.35.

The personal sector lender on Saturday reported a 59 per cent bounce in standalone web revenue to Rs 7,019 crore for the fourth quarter of 2021-22.

The financial institution had earned a revenue of Rs 4,403 crore within the corresponding January-March interval of the final 12 months.

Total earnings of the financial institution rose to Rs 27,412 crore in January-March from Rs 23,953 crore within the year-ago quarter, ICICI Bank mentioned in a regulatory submitting.

Net curiosity earnings (NII) elevated 21 per cent to Rs 12,605 crore from Rs 10,431 crore in the identical quarter a 12 months in the past, it mentioned.

On a consolidated foundation, ICICI Bank Group’s web revenue jumped 58 per cent to Rs 7,719 crore in March quarter from Rs 4,886 crore within the year-ago interval.

The financial institution’s asset high quality improved as gross non-performing belongings fell to three.60 per cent of gross advances as of March 31, 2022, from 4.96 per cent within the corresponding interval a 12 months in the past.

Net NPAs additionally declined to 0.76 per cent from 1.14 per cent on the finish of the fourth quarter of the earlier monetary 12 months.