ICICI Bank's Q2 pre-tax profit jumps 247% to Rs 4,367 crore in FY20

Retail loans grew by 22% YoY, while SME loan book grew by 29.9%

Private sector lender ICICI Bank on Saturday reported a jump of 247 per cent in its profit before tax (PBT) for the July-September 2019 quarter (Q2), posting Rs 4,367 crore, compared to Rs 1,256 crore in the year-ago quarter. However, net profit dipped by 27.9 per cent to Rs 655 crore in Q2FY20, as against Rs 909 crore in the corresponding quarter of FY19. 

Excluding the impact of a one-time additional charge of Rs 2,920 crore on account of the re-measurement of the accumulated deferred tax (DTA), net profit would have been Rs 3,575 crore on a standalone basis, the bank