ICICI Bank Net profits Rise To 2976 Crores; Asset Quality Improves

ICICI Bank reported a net profit of Rs 2976 crores for the quarter ending June 30, 2015, rising marginally from Rs 2922 crores reported in the corresponding period of last year.

Asset quality also improved marginally with gross non performing assets being placed at 3.68 per cent for the quarter ending June 30, 2015 as against 3.78 per cent in the previous quarter.

The net non performing assets also improved to 1.58 per cent from 1.61 per cent. The shares of the bank rallied a huge 5 per cent following an improvement in asset quality. The shares were last traded at Rs 305 on the NSE.

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