Icici Bank Q1 Net Vaults 63%

ICICI Bank has registered a 63 per cent rise in the net profit to Rs 65.25 crore for the first-quarter ended June 30, 2001, compared with Rs 40.14 crore in the corresponding quarter of the previous fiscal.

The rise in the net was due to the 75 per cent rise in the total income at Rs 149.70 crore (Rs 85.37 crore) and also a 130 per cent rise in the core-fee income at Rs 61.17 crore (Rs 26.62 crore).

Under the US GAAP, the net income rose by 26 per cent to Rs 56.20 crore (Rs 44.60 crore), while the profit before tax rose by 56 per cent to Rs 86.80 crore (Rs 55.74 crore).

 

The interest income of the bank increased by 65.2 per cent Rs 468.3 crore (Rs 283.6 crore), while the other income increased by 307.2 per cent to Rs 127.2 crore (Rs 31.2 crore).

The interest expenses of the bank rose by 60.8 per cent to Rs 318.6 crore (198.2 crore), while the total expenditure increased by 81 per cent to Rs 456.8 crore (Rs 252.9 crore).

The bank's capital adequacy ratio for the quarter stood at 12.53 per cent, while the net non-performing assets to customer assets declined from 1.44 per cent, as on March 31, 2001, to 1.31 per cent.

Deposits of the bank grew to Rs 17,468 crore (Rs 8,740 crore). The deposits, as on March 31, 2001, were at Rs 16,378 crore.