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ICICI Bank‘s fourth quarter profit decreased sharply by 76 percent to Rs 702 crore as compared to Rs 2,922.1 crore in the year ago period, impacted by exceptional provisioning.
The net interest income that is the difference between interest earned and interest expended increased by 6.4 perecnt to Rs 5,404.51 crore on yearly basis.
The bank has said that during the quarter it made contingency provisions of Rs 3,600 crore because of its exposure to some sectors.
The largets private sector lender of the country has missed the analysts’ expectations on account of high provisions.
