ICICI Bank's net profit up by 14 percent for Q3

The ICICI Bank Friday said its consolidated net profit increased by 14 percent to Rs.3,265 crore for the quarter ending Dec 31 compared with Rs.2,872 crore for the same period during the last fiscal.

The standalone net profit for the bank also increased by 14 percent to Rs.2,889 crore from Rs.2,532 crore in the last fiscal within the same time period.

The annualised consolidated return on equity was 15.5 percent in the third quarter of the current fiscal.

During the quarter, the bank added 35 branches and 352 ATMs to its network. Till December end last year, it had a total of 3,850 branches.

"The bank continues to have the largest branch network among private sector banks in the country. The bank had a presence in over 2,300 centres Dec 31, 2014. The ATM network increased to 12,091 ATMs Dec 31, 2014 compared with 11,215 Dec 31, 2013," it said in a statement.

Its life insurance wing's net profit also rose to Rs.462 crore for the third quarter of the current fiscal compared with Rs.428 crore for the same time frame during the last fiscal year.

The general insurance division's net profit stood at Rs.176 crore compared with Rs.76 crore on a year-on-year basis.