Skip to main content

ICICI Bank Q2 net down 27% to Rs 651.5cr

 ICICI Bank reported a consolidated net profit decline of 27.44% y-o-y to Rs 651.48 crore for the quarter ended September 2008. Consolidated revenues went up 12.56% to Rs 15,590.46 crore.

On a standalone basis, ICICI Bank has posted a 1.09% rise in net profit at Rs 1,014 cr for the second quarter, as compared to Rs 1,003 cr during the same period last year.

During the July-September quarter, the bank's net interest income increased 20% to Rs. 2,148 cr from Rs. 1,786 cr for the corresponding period a year ago.

The bank said it has expanded its current and savings account (CASA) base to 30% of total deposists during the second quarter, as against 25% a year ago.

During the quarter the bank's fee income increased 26% to Rs. 1,876 cr, as comapred to Rs. 1,486 cr for the same period last year.

 The bank's capital adequacy at the end of September 2008 stood at 14.01%, with Tier-1 capital adequacy being at 11.03%.

 The bank has seen a reduction in costs by 12 per cent on a year-on-year basis due to cost rationalisation measures.

Consolidated advances of the bank and its banking subsidiaries and ICICI Home Finance Company increased 16 per cent to Rs. 2,64,665 crore at September 30, 2008 from Rs. 2,27,583 crore at September 30, 2007.

The consolidated net non-performing asset (NPA) ratio of the bank and its subsidiaries was 1.6 per cent. The specific provisions for NPAs (excluding the impact of farm loan waiver) were Rs. 868 crore during the second quarter, as compared to Rs. 878 crore during April-June 2008.
Labels:

Comments

Post a Comment

Popular posts from this blog

RBS picks up 0.60% stake in Gateway Distriparks

The Royal Bank of Scotland (RBS) has picked up 0.60% stake in logistic services provider -- Gateway Distriparks. The bank has bought 6.40 lakh shares in the company for a total consideration of Rs 8.32 crore. Gateway Distriparks, incorporated in 1994, is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
Post a Comment
Read more

Day End Report

The Sensex opened with a huge downward gap of 250 points at 13,856, and soon touched a low of 13,731. Another rise in repo rate and Cash Reserve Ratio by the RBI sparked off heavy sell-off in opening trades. However, fresh buying at lower levels helped the index recover all its losses by mid noon trades. A fresh round of buying in late trades saw the index surge to a high of 14,249 - up 518 points from the days low. The Sensex finally settled with a gain of 113 points at 14,220. The NSE Nifty ended with a gain of 60 points at 4,251. The market breadth was marginally positive- out of 2707 stocks traded, 1,370 advanced, 1,264 declined and 73 were unchanged today. Reliance Communications (RCom) zoomed 7.2% at Rs 509. Tata Steel surged 4.5% at Rs 743. DLF and Reliance Infra gained 4.2% each at Rs 458 and Rs 945, respectively. TCS and Bharti Airtel advanced 4% each at Rs 877 and Rs 780, respectively. Ranbaxy was up 3.8% at Rs 545. BHEL gained 3.7% at Rs 1,442. Reliance advanced 3.4% to Rs 2...
Post a Comment
Read more

Auto industry records highest-ever sales in Jan

Riding on the back of economic growth, easy availability of finance and the continuing fiscal stimulus, the domestic auto industry has posted the highest ever monthly sales in January. The strong growth is both in terms of passenger car volumes and the total vehicle sales. According to Society of Automobile Manufacturers (SIAM) data, the passenger car segment has posted a 32 per cent growth in domestic sales at 145,905 units in January, over the same month last year. The last highest-ever monthly sales in the segment were in March 2009, when it sold 129,358 units. Meanwhile, overall sales across the industry grew 45 per cent at 1,114,157 units. The earlier record of highest ever monthly sales was in October 2006, when the industry had sold 1,017,198 units. Individually, the umbrella passenger vehicle segment posted a 37 per cent growth, while the commercial vehicle (CV) segment grew 131 per cent. Also, the two-wheeler and three-wheeler segments rose 43 and 47 per cent, respectively.
Post a Comment
Read more