On Monday the ICICI Bank has reported 10.2% profit rise year-on-year to Rs 2,922 crore in the quarter ended March 2015.
“Net interest margin improved to 3.57 percent in March quarter from 3.46 percent in December quarter and the same in FY15 improved to 3.48 percent compared to 3.33 percent in FY14,” said the bank.
The difference between interest earned and interest expended grew by 16.6 per cent to Rs 5,079 crore during January-March quarter. Other income ascended 17.5 per cent to Rs 3,496.3 crore from Rs 2,976.09 crore during the same period.
“Provision coverage ratio was 58.6 percent as on March 31, 2015,” said the bank in its filing.
The assets quality has worsened with the gross non-performing assets (NPA) rising 75 basis points YoY ( up 38 bps sequentially) to 3.78 percent and net NPA climbing 64 bps Y-o-Y (up 34 bps Q-o-Q) to 1.61 percent in the quarter gone by.