ICICI Bank Q2 Results, Net up 31% at Rs 580 cr

By yardloo on October 27th, 2008

After the Bad Phase and Rumor of ICICI bankruptcy , Country’s top private sector lender ICICI Bank on Monday said its second quarter profit after tax rose to Rs 1,014 crore, up by a modest 1.1 per cent on a year-on- year basis.

The PAT figure for the latest quarter represented a 39 per cent growth on sequential basis from the first quarter of this fiscal, while core operating profit rose Yardloo › Create New Post — WordPress42 per cent on year-on-year basis, the bank said.

The company’s core operating profit rose to Rs 2,437 crore in Q2-2009, from Rs 1,712 crore in year-ago period. ICICI bank q2 Result, ICICI bank Q2

Interest earned increased to Rs 7,834.98 crore in Jul-Sep quarter of 2008 compared with Rs 7,516.47 crore in the same quarter of previous year. Interest expended stood at Rs 5,687.36 crore in the September quarter of 2008 from Rs 5730.47 crore in the earlier year.

ICICI Bank’s Q2 net profit up 30% at Rs 755 crore from Rs 580.05 crore. Its Net Interest Income (NII) was up 47% at Rs 1,577 crore from Rs 1,070 crore. The bank’s retail assets were up by 57%, deposits were up 57%, YoY. Tthe bank’s CASA ratio has improved to 23% and the fee income has grown by 62% .

The ratio of net non-performing assets (NPAs) to customer assets decreased from 2.60 per cent last year to 0.97 per cent this year. For the first half of 2005-06, net profit increased by 27 per cent to Rs 1,110 crore from Rs 873 crore last year.

Total retail disbursements in the first half were about Rs 25,900 crore, including home loan disbursements of about Rs 10,600 crore. The growth in credit in the corporate, small and medium enterprise, rural and agri-business segments and international banking increased by 33 per cent to Rs 38,500 crore from Rs 28,900 crore last year.

“The bank is focusing on loan origination in the retail and agriculture segments and on non-fund based products and services,” said a press release issued by ICICI Bank.

ICICI Bank has received regulatory approval for setting up branches in Hong Kong and Sri Lanka and at the Dubai International Financial Centre.

The bank also saw an increase in the number of its domestic branches and extension counters to 583 from 470 last year.

The capital adequacy ratio was at 11.5 per cent as on September 30, 2005 (15.2 per cent). The shares of ICICI Bank closed at Rs 525.60 against Rs 538.2 on the BSE, down 2.34 per cent.

Icici Q2 Consolidated Sheet

Q2FY09 (consolidated)

Total income: up 12.56% to Rs 15590.46 crore

Net profit: down 27.44% to Rs 651.48 crore

Capital adequacy

Q2FY09: 14.01%

Q1FY09: 13.42%

Q4FY08: 13.97%

Q3FY08: 15.8%

Q2FY08: 13%

Net NPA ratio

Q2FY09: 1.91%