ICICI Bank Soars: Net Profit Jump Boosts Shares
ICICI Bank shares rose over 2% after reporting a 9.28% rise in March quarter net profit, boosted by a 90% drop in provisioning. The bank's standalone net profit increased to Rs 13,702 crore, aided by a healthy growth in assets and net interest income, though geopolitical tensions present challenges.
- Country:
- India
Shares of ICICI Bank experienced a significant uptick of over 2% during Monday morning trade, thanks to a robust 9.28% increase in reported net profit for the March quarter. This financial uplift is attributed to a substantial drop in provisioning by nearly 90%.
On the BSE, ICICI's stock price rose by 2.13% to close at Rs 1,376.25, while on the NSE, it surged by 2.19% to Rs 1,376.40. The bank, a leading private-sector player, saw its standalone net profit climb by 8.5%, reaching Rs 13,702 crore from the previous year's Rs 12,630 crore.
For the fiscal year 2025-26, ICICI Bank's post-tax profit increased by 6.2% to Rs 50,147 crore. A key factor in this success was an 8.4% rise in core net interest income to Rs 22,979 crore, driven by a 15% asset growth. However, Executive Director Sandeep Batra expressed concerns over the economic outlook due to the West Asia conflict.
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