ICICI Bank hits new high on strong operational performance in Q2

The private sector lender on Saturday reported a jump of 247 per cent in its profit before tax (PBT) for Q2FY21 at Rs 4,367 crore

Shares of ICICI Bank hit a new high of Rs 473, up 1 per cent on the BSE on Sunday after the bank reported healthy operational performance driven by net interest income (NII), which grew 26 per cent at Rs 8,057 crore on year-on-year (YoY) basis in September quarter (Q2FY20). The bank’s net interest margin (NIM) improved to 3.64 per cent in Q2FY20 from 3.33 per cent a year ago.
 

Asset quality also improved with gross non-performing assets (NPA) declining to 6.37 per cent with improvement of 12 basis points (bps) while net NPA declined to 1.6 per cent from