Icici Bank Q3 Net At Rs 330 Cr

ICICI Bank has posted a net profit of Rs 330 crore for the third-quarter ended December 31, 2002.

The results for the quarter include that of ICICI and its subsidiaries, ICICI Personal Financial Services Ltd and ICICI Capital Services Ltd, which were merged into the bank on March 30, 2002, and is therefore not comparable with the previous year.

The bank had posted a net profit of Rs 70.02 crore for the corresponding period the previous year.

For the nine-month period ended December 31, 2002, the bank posted a net profit of Rs 868.50 crore compared with Rs 201.42 crore the corresponding period the previous year.

 

The third-quarter net has risen by 16 per cent on a quarter-on-quarter basis compared with the second-quarter profit of Rs 285 crore.

Interest income of the bank was at Rs 2,258.71 crore, while other income stood at Rs 567.82 crore, of which the profit on sale of investments was at Rs 178 crore.

Advances, as on December 31, 2002, were at Rs. 61,026 crore compared with Rs 57,526 crore at March 31, 2002. There was a decline in the corporate assets primarily due to sell-down of loans as part of the bank