ICICI Bank Q3 net profit up 77.5%

Mumbai: ICICI Bank posted net profit (consolidated) of Rs 2,039 crore  for the third quarter ended December 31, 2010, up 77.5 per cent from Rs 1,149 crore in the corresponding quarter last fiscal.

Total income for the quarter was up 8.7 per cent at Rs 15,415.8 crore from Rs 14,176.8 crore.

Operating profit for the quarter at Rs 2342.6 crore, dipped from Rs 2368.8 crore.
Current and savings account (CASA) ratio increased to 44.2 per cent at December 31, 2010 from 39.6 per cnet at December 31, 2009.

Net non-performing asset ratio declined to 1.16 per cent at December 31, 2010 from 2.19 per cnt at December 31, 2009. Fee income increased 14.3 per cent to Rs 1,625 crore ($363 million) in Q3-2011 from Rs 1,422 crore ($ 318 million) in Q3-2010.

Gross NPA’s have declined to 1.39 per cent from 2.43 per cent year-on-year. However on absolute terms gross NPAs rose to Rs 10,186.6 crore from Rs 8,925.5 crore.