ICICI Bank announces 43% rise in consolidated profit to Rs 1,992 crore for the quarter ended September 30, 2011
Mumbai, October 31, 2011:
Operating review
The Bank has continued with its strategy of pursuing profitable growth. In
this direction, the Bank continues to leverage its strong corporate
franchise, its international presence and its expanded branch network in
India. At September 30, 2011, the Bank had 2,535 branches and 6,913
ATMs, the largest branch network among private sector banks in the
country.
Credit growth
Advances increased by 20% year-on-year to Rs 233,952 crore (US$ 47.8
billion) at September 30, 2011 from Rs 194,201 crore (US$ 39.6 billion) at
September 30, 2010.
Deposit growth
During Q2-2012, savings deposits and current account deposits increased
by Rs 3,291 crore (US$ 672 million) and Rs 3,220 crore (USD 657 million)
respectively. At September 30, 2011 savings account deposits were Rs
70,149 crore (US$ 14.3 billion) and current account deposits were Rs
32,997 crore (US$ 6.7 billion). The CASA ratio at September 30, 2011 was
42.1%.
Capital adequacy
The Bank’s capital adequacy at September 30, 2011 as per RBI’s
guidelines on Basel II norms was 18.99% and Tier-1 capital adequacy was
13.14%, well above RBI’s requirement of total capital adequacy of 9.0%
and Tier-1 capital adequacy of 6.0%.
Asset quality
Net non-performing assets decreased 30% to Rs 2,236 crore (US$ 457
million) at September 30, 2011 from Rs 3,192 crore (US$ 652 million) at
September 30, 2010. The Bank’s net non-performing asset ratio
decreased to 0.80% at September 30, 2011 from 1.37% at September 30,
2010 and 0.91% at June 30, 2011.
The Bank’s provision coverage ratio
computed in accordance with RBI guidelines at September 30, 2011 was
78.2% compared to 69.0% at September 30, 2010 and 76.9% at June 30,
2011. Net restructured assets at September 30, 2011 were Rs. 2,501 crore
(US$ 511 million).
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(This is a press release from ICICI Bank)
