India's largest private sector lender ICICI Bank beat street expectations with the first quarter (April-June) net profit rising 16.75 percent at Rs 2,655.30 crore compared to Rs 2,274.21 crore in the year-ago period driven by higher other income and net interest income but impacted by higher provisions.
According to CNBC-TV18 poll estimates, analysts had expected the bank to report net profit of Rs 2,573 crore and net interest income of Rs 4,450 crore for the quarter.
Net interest income, the difference between interest earned and interest expended, grew 17.55 percent on yearly basis to Rs 4,491 crore supported by strong retail loan growth. Other income (non-interest income) grew 14.7 percent year-on-year to Rs 2,849.81 crore in the quarter ended June 2014 with the cost-to-income ratio reduced by 100 basis points to 38.4 percent during the same period.
The bank said its operating profit increased by 18 percent to Rs 4,517 crore for Q1FY15 from Rs 3,814 crore for Q1FY14 and net interest margin improved to 3.40 percent in April-June quarter compared to 3.27 percent in the year-ago period and 3.35 percent in previous quarter.
Asset quality of the bank was stable during the quarter with the gross non-performing assets (NPA) falling 18 basis points year-on-year (up 2 bps sequentially) to 3.05 percent and net NPA increasing 17 bps Y-o-Y (up 2 bps Q-o-Q) to 0.99 percent in the quarter gone by.
In absolute terms, during the quarter gross NPA of the bank increased 8.3 percent (up 3.2 percent quarter-on-quarter) to Rs 10,843.3 crore and net NPA jumped 39.2 percent (up 4 percent Q-o-Q) to Rs 3,428 crore year-on-year.
Provisions rose by 22.4 percent (up 1.6 percent quarter-on-quarter) to Rs 726 crore in Q1FY15 compared to Rs 593 crore in Q1FY14 with the provision coverage ratio at 68.4 percent at the end of June 2014.
Total advances grew by 15 percent year-on-year to Rs 3,47,067 crore in first quarter of current financial year with the continued healthy growth in retail disbursements resulting in a year-on-year growth of 26 percent in the retail portfolio at the end of June quarter, said ICICI Bank in its filing.
It further said savings account deposits jumped by 16 percent year-on-year to Rs 1,02,736 crore while current account deposits increased by 13 percent Y-o-Y to Rs 41,678 crore with the CASA ratio at 43 percent as on June 2014. Total deposits
grew by 15 percent to Rs 3,35,767 crore during the same period, it added.
Operating expenses increased by 13.5 percent on yearly basis to Rs 2,824.98 crore and tax cost jumped 19.8 percent to Rs 1,134.34 crore compared to corresponding quarter of last fiscal.
Capital adequacy ratio (as per Basel III) stood at 17 percent during the quarter, declined from 17.70 percent in previous quarter and 17.04 percent in the year-ago period.
At 14:19 hours IST, the stock was quoting at Rs 1,485, down 0.31 percent on the BSE.
Anda sedang membaca artikel tentang
ICICI Q1 net beats estimates; up 17% on NII, other income
Dengan url
http://sehatgayahidup.blogspot.com/2014/07/icici-q1-net-beats-estimates-up-17-on.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
ICICI Q1 net beats estimates; up 17% on NII, other income
namun jangan lupa untuk meletakkan link
ICICI Q1 net beats estimates; up 17% on NII, other income
sebagai sumbernya
0 komentar:
Posting Komentar