ICICI Bank Q3 net profit jumps 25% to Rs 6,194 cr; NII rises 23%

Asset quality of the bank improved and its provisions fell 27% to Rs 2,007 in Q3FY22 from Rs 2,742 crore in Q3FY21

Private sector lender ICICI Bank on Saturday reported a 25 per cent jump in net profit in the October–December quarter (Q3FY22), aided by lower provisions and a robust increase in net interest income (NII). The lender’s net profit in the reporting quarter stood at Rs 6,194 crore, its highest ever quarterly profit, beating Street estimates. Analysts had estimated a net profit of Rs 5,800 crore.

Its net interest income rose 23 per cent to Rs 12,236 crore in Q3FY22 as compared to Rs 9,912 crore in the corresponding period of last financial year. Also, non-interest income of the lender increased by