ICICI Bank Q2 net rises 37% to Rs 7,558 cr on healthy loan growth

Advances of ICICI Bank grew 23 per cent YoY and 5 per cent sequentially to Rs 9.38 trillion at the end of the September quarter

Private sector lender ICICI Bank reported a 37 per cent year-on-year (YoY) jump in net profit to Rs 7,558 crore in July-September (Q2FY23) quarter, aided by lower provisions and higher net interest income (NII), supported by healthy loan growth. Net profit for the quarter beat street estimates as analysts polled by Bloomberg had estimated a net profit of Rs 7,411.6 crore for the bank.

The bank reported a net profit of Rs 5,511 crore in the year-ago period.

The NII of the lender rose 26 per cent YoY to Rs 14,787 crore in Q2FY23 from Rs 11,690 crore in the