ICICI Bank Q2 net up 40 per cent

By Our Banking Bureau | 01 Nov 2003

Mumbai: Increase in net interest income has helped ICICI Bank post a 40.6 per cent rise in net profit at Rs 401.40 crore for the second quarter ended September 30,2003, as compared with Rs 285.30 crore in the year-ago period. The net interest income increased 47 per cent to Rs 402 crore (Rs 307 crore).

Total income was lower at Rs 3,050.71 crore (Rs 4,002.29 crore). This is inclusive of interest earned at Rs 2,188.50 crore (Rs 2,279.78 crore) and other income, which was lower at Rs 862.21 crore (Rs 1,722.51 crore). The other income in September 2002-03, includes a gain of Rs 1,191 crore realised during that period, on the sale of equity shares of the bank held by a trust, which were transferred to it by erstwhile ICICI Ltd in accordance with the scheme of amalgamation.