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Daily News & Analysis
Sunday, July 27, 2008
ICICI Bank's Q1 net profit down 6%
It comes down to Rs728 cr from Rs775.1 cr reported during the first quarter of the last fiscal
Maulik Buch. Vadodara
Leading private bank ICICI Bank's net profit for the quarter ended June 30, 2008 has come down by 6% to Rs728 crore from Rs775.1 crore reported during the first quarter of the last fiscal. This was declared at the board meeting of the bank held in Vadodara on Saturday.However, the core operating profit of the bank for the first quarter has increased to Rs2,308 crore from Rs1,330 crore during the corresponding duration last financial year. By June 30, 2008, the bank and its subsidiaries had consolidated a total assets of Rs4,84,643 crore. As far as the depositary growth is concerned, the savings account deposits for the said quarter increased to Rs43,465 crore from Rs32,121 crore last fiscal. Current and savings account deposits constituted 27.6% of total deposits compared to 22.4% in Q1 last fiscal.The bank has significantly expanded its branch network as well. As on July 21, the bank had 1,388 branches and extension counters and 4,233 ATMs. The consolidated advances of the bank and its overseas banking subsidiaries and ICICI home finance company increased 20% to Rs2,57,287 crore at June 30 from Rs2,15,293 crore earlier.
Daily News & Analysis
Sunday, July 27, 2008
ICICI Bank's Q1 net profit down 6%
It comes down to Rs728 cr from Rs775.1 cr reported during the first quarter of the last fiscal
Maulik Buch. Vadodara
Leading private bank ICICI Bank's net profit for the quarter ended June 30, 2008 has come down by 6% to Rs728 crore from Rs775.1 crore reported during the first quarter of the last fiscal. This was declared at the board meeting of the bank held in Vadodara on Saturday.However, the core operating profit of the bank for the first quarter has increased to Rs2,308 crore from Rs1,330 crore during the corresponding duration last financial year. By June 30, 2008, the bank and its subsidiaries had consolidated a total assets of Rs4,84,643 crore. As far as the depositary growth is concerned, the savings account deposits for the said quarter increased to Rs43,465 crore from Rs32,121 crore last fiscal. Current and savings account deposits constituted 27.6% of total deposits compared to 22.4% in Q1 last fiscal.The bank has significantly expanded its branch network as well. As on July 21, the bank had 1,388 branches and extension counters and 4,233 ATMs. The consolidated advances of the bank and its overseas banking subsidiaries and ICICI home finance company increased 20% to Rs2,57,287 crore at June 30 from Rs2,15,293 crore earlier.
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