ICICI Bank's net profit rises 260% to Rs 4,403 cr in Q4FY21; NII rises 17%

Net interest margin was 3.84% in Q4FY21 as compared to 3.67%in Q3FY21 and 3.87% in Q4FY20

Private sector lender ICICI Bank on Saturday reported a net profit of Rs 4,403 crore in the March quarter of FY21, up 260 per cent year-on-year (YoY). In the same period last year, the bank's net profit stood at Rs 1,221 crore. 

Sequentially, however, the bank's net profit was down around 11 per cent. It decided to provide Rs 1,000 crore as additional Covid-related provisions in the reporting quarter while, in Q3, the bank had utilised Rs 1,800 crore of provisions. Also, the treasury income in the reporting quarter is lower compared to the last quarter. 

The net interest income