ICICI Bank rose 3.13% to Rs 428.50 at 9:20 IST on the BSE after the bank reported a net profit of Rs 1908.03 crore in Q1 June 2019 as compared to net loss of Rs 119.55 crore in Q1 June 2018.
The result was announced on Saturday, 27 July 2019.Meanwhile, the S&P BSE Sensex was up by 9.5 points or 0.03% to 37,892.21.
On the BSE, 2.32 lakh shares were traded in the counter so far compared with average daily volumes of 9.31 lakh shares in the past two weeks. The stock had hit a high of Rs 434.50 and a low of Rs 426.30 so far during the day. It hit a 52-week high of Rs 443.85 on 27 June 2019 and a 52-week low of Rs 282.50 on 27 July 2018.
ICICI Bank's total income rose 15.24% to Rs 21,405.50 crore in Q1 June 2019 over Q1 June 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 45763.08 crore as on 30 June 2019 as against Rs 46291.63 crore as on 31 March 2019 and Rs 53464.94 crore as on 30 June 2018.
The ratio of gross NPAs to gross advances stood at 6.49% as on 30 June 2019 as against 6.7% as on 31 March 2019 and 8.81% as on 30 June 2018. The ratio of net NPAs to net advances stood at 1.77% as on 30 June 2019 as against 2.06% as on 31 March 2019 and 4.19% as on 30 June 2018.
Net non-performing assets (NPA) decreased by 51% to Rs 11857 crore in Q1 June over Q1 June 2018. Provisions were Rs 3496 crore in Q1 June 2019 compared to Rs 5971 crore in Q1 June 2018.
The bank's total capital adequacy at 30 June 2019 as per Reserve Bank of India's guidelines on Basel III norms, including profits for the quarter, was 16.19% and Tier-1 capital adequacy was 14.60% compared to the minimum regulatory requirements of 11.08% and 9.08% respectively.
ICICI Bank is India's largest private sector bank by consolidated assets. The bank and their subsidiaries offer a wide range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. The bank had a network of 4,882 branches and 15,101 ATMs at 30 June 2019.
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