ICICI Bank Profit for first Quarter FY 2016 is at Rs 2976 Crore

ICICI Bank consolidated profit after tax increases to Rs 3232 crore for the quarter ended June 30, 2015 as against Rs 2832 Crore last year same quarter, increased by 14% year-on-year.

Standalone profit of ICICI Bank for the first quarter ended FY 2016 is at Rs 2976 Crore compare to Rs 2655 Crore for first quarter FY 2015.

icici bank

ICICI bank’s net interest margin improved from 3.40 percent for last year same quarter to 3.54% in Q1-2016.

As on 30th June 2015, ICICI Bank’s advance is at Rs 399,738 crore (US$ 62.8 billion), increased by 15% year-on-year, compare to Rs 347,067 crore (US$ 54.5 billion) at the end of June 30, 2014.

During this quarter, savings account deposits increased by 14% year-on-year. Net NPA (non-performing asset) as on June 30, 2015 were Rs 6,402 crore (US$ 1,006 million) compared to Rs 6,325 crore (US$ 994 million) at March 31, 2015.

As per ICICI Bank, digital mobile wallet – Pockets – has seen over 1.0 million downloads. The bank has also partnered with Alibaba.com for the launch of the Trade Facilitation Center, a single window facility to get quick access to an array of integrated business services from ICICI Bank.

Percentage of net non-performing advances to net advances is at 1.58% compare to 0.99% a year ago.

Other achievements of ICICI Bank;

  • 25% year-on-year growth in retail advances
  • 14% year-on-year growth in savings account deposits
  • The cost-to-income ratio was at 37.8% in Q1-2016 compared to 38.4% in Q1-2015
  • Total capital adequacy of 16.75% and Tier-1 capital adequacy of 12.64% on standalone basis at June 30, 2015, including profits for Q1-2016
  • Bank launched a voice recognition service at its call centres which authenticates savings account and credit card customers based on their speech patterns and allows them to execute banking transactions in a quick, secure and convenient manner.

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