ICICI Bank Q1 2014 net profits at Rs 2274 crores

Business

oi-Sunil

By Sunil Fernandes

Updated: Wednesday, July 31, 2013, 12:53 [IST]

ICICI Bank has reported a net profit of Rs 2274 crores for Q1 2014, which was largely in line with expectations. The net profit for the previous quarter ending March 31, 2013 were placed at Rs 2304 crores.

The total income for the bank came in at Rs 12,904 crores for Q1 2014, as against Rs 12,573 crores in the previous quarter.

The gross non performing assets for the bank were stable at around 3.23 per cent, as against 3.23 per cent in the previous quarter.

The net NPAs were placed at 0.82 per cent, marginally up from the previous quarter.

The net interest margin increased by 26 basis points from 3.01% for Q1-2013 to 3.27% for Q1-2014. The domestic net interest margin was 3.63% in Q1-2014.

During the quarter, the Bank added 250 branches, including 150 low cost Gramin branches,
and 421 ATMs to its network. At June 30, 2013, the Bank had 3,350 branches, the largest branch network among private sector banks in the country. The Bank's ATM network increased to 10,902 ATMs at June 30, 2013 as compared to 9,366 at June 30, 2012.

The stock price of the bank was down 2% at Rs 906 on the Bombay Stock Exchange.

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