NEWS & ADVICE : CAR LOANS
ICICI Bank achieves net profit of Rs 1,026 crore in Q1
By Vaibhav Aggarwal
Aug 2, 2010
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The largest private sector lender of the country, ICICI Bank has booked a net profit of Rs 1,026 crore for the first quarter of this fiscal. The bank's profit have shown a 17% rise from last year's figures for the same period. Last year the bank had booked Rs 878 crore profit.

Fee income of the bank has increased by 7% amounting to Rs. 1,413 crore from Rs. 1,319 crore.

"The bank continued to invest in expansion of its branch network to enhance its deposit franchise and create an integrated distribution network for both asset and liability products. The branch network has increased to 2,016 as at June 30, 2010, the largest branch network among private sector banks in the country," the bank said.

The CASA deposits of the bank amount to Rs. 84,618 crore from Rs. 63,977 crore thus meaning a 32% rise.

Total deposits of the bank for the first quarter amounted to Rs. 200,913 crore for the first quarter while the loan book figured to Rs. 184,378 crore.

There has been a dip in the NPA level of the bank too. The net NPAs of the bank have dipped to 1.62% as against 2.19%.


 


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