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₹1221 crore but below expectation

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Mumbai: Private sector lender ICICI Bank Ltd on Saturday reported a net profit of ₹1221.36 for the three months ended March as against a profit of ₹969 crore a year ago.

According to the average estimate of 16 analysts polled by Bloomberg, net profit was expected at ₹3,510.5 crore for the quarter.

The bank had reported a net profit of ₹4146 crore during the third quarter. Net interest income grew 17% year on year to ₹8,927 crore during the fourth quarter compared to ₹7602 crore during same the period last year.

Net interest margin stood at 3.87% in the quarter compared to 3.77% in the previous quarter. Asset quality improved year-on-year during January-March.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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