It has been reported that one of the biggest lenders of the country ICICI bank has earned a net profit of 15%. Last the net profit of the bank was the net profit of Rs 2,304 crore and it went up to the Rs 2,652 crore this year. The Major part of the growth is from the growth in other income, which rose to Rs 2976 crore.
MD and CEO of the bank Mr. kochhar reported that bank is planning to improve and increase its loan book by 18-20% in FY15. Bank has shown a commendable performance in consolidated profit which crossed Rs 10,000 crore for the first time. A steady growth of 14.5% YoY is noticed in the net interest income.
Mr Kochhar also stated that while profit after tax came ahead of expectation boosted by other income, which included Rs 222 crore worth of exchange rate gains on repatriation of retained earnings from overseas branches.