ICICI Bank reports net profit of Rs 1,908 crore for June quarter

The lender's net interest income (NII) stood at Rs Rs 7,737 crore, while the net interest margin (NIM) was 3.61%

Private sector lender ICICI Bank on Sarturday reported a net profit of Rs 1,908 crore for the quarter ended June 30,2019 (Q1FY20), helped by lower provisions and higher retail loan growth. The operating profit came in at Rs 6,289 crore.

The bank had reported a loss of Rs 119.6 crore in the corresponding quarter of the last year.

The lender's net interest income (NII) rose to Rs 7,737.4 cr up 26.8% (YoY) from Rs 6,102 in Q1FY19, while the net interest margin (NIM) was 3.61%.

The bank's provisions were reported at Rs 3,496 crore.