ICICI Bank Reports Impressive Q3FY24 Results, Records 23.5% Rise in Net Profit

23 Jan 2024 , 02:44 PM

ICICI Bank’s shares rise by 3% on the NSE on January 23 following a 23.5% increase in net profit for Q3FY24 on January 20.

ICICI Bank reports a net profit of Rs 10,271.54 crore for Q3FY24, a notable improvement from Rs 8,312 crore in the corresponding period last year.

The bank’s gross non-performing asset (NPA) decreases to 2.3%, down from 3.07% in the previous fiscal year. Net NPA stands at 0.44%, showing a reduction from 0.55% in Q3FY23. Net interest income (NII) experiences substantial growth, rising by 34.6% year-on-year to Rs 16,465 crore in Q3FY23.

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