As of March 31, 2023, the percentage of gross non-performing assets in all loans was 2.81 percent, down from 3.60 percent a year earlier and 3.07 percent a quarter earlier.
Private lender ICICI Bank announced on Saturday that its consolidated net profit for the January-March 2022–23 quarter increased by 27.64% as compared to the same period in the previous year, to Rs 9,852.70 crore. The largest private sector lender recorded a stand-alone increase in net profit of about 30% for the March quarter, totaling Rs 9,121.87 crore.
The company’s entire revenue increased to Rs 36,108.88 crore in the reporting quarter from Rs 27,412.32 crore in the same quarter last year, while its overall costs increased to Rs 22,282.50 crore from Rs 17,119.38 crore.
As of March 31, 2023, the percentage of gross non-performing assets in all loans was 2.81 percent, down from 3.60 percent a year earlier and 3.07 percent a quarter earlier.
The company’s overall provisions grew to Rs 1,619.80 crore from Rs 1,068.95 crore in the same time last year, while they decreased from Rs 2,257.44 crore in the December quarter.
All key metrics of HDFC Bank and ICICI Bank were compared.
Performance review for the quarter ended March 31, 2023 (Q4-2023) The Bank’s profit after tax grew by 30.0% Y-o-Y to ₹9,122 crore in Q4-2023.
Comparison of HDFC Bank and ICICI Bank results for Q4FY23 and full year FY23 on key parameters.
— ICICIdirect (@ICICI_Direct) April 22, 2023
The better performing metrics are highlighted in green.#HDFCBank #ICICIBank #banknifty pic.twitter.com/Hrdgv4MDFc