ICICI Bank’s stand-alone Q4 net profit up 189%

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ICICI Bank’s stand-alone Q4 net profit up 189%

Mumbai, May 3 (IANS) Private sector lending major ICICI Bank on Wednesday reported an exponential rise of 189 per cent in its stand-alone net profit for the fourth quarter (Q4) of Fiscal 2016-17.

The bank’s net profit rose to Rs 2,025 crore from Rs 702 crore reported in the fourth quarter of FY 2015-16.

The net interest income increased by 10 per cent on a year-on-year (YoY) basis to Rs 5,962 crore during the quarter under review from Rs 5,404 crore in the quarter ended March 31, 2016.

“Non-interest income was Rs 3,017 crore (US$ 465 million) in Q4-2017 compared to Rs 2,978 crore (US$ 459 million), excluding gains of Rs 2,131 crore (US$ 329 million) on sale of stake in insurance subsidiaries, in Q4-2016,” the private lender said in a statement.

This is published unedited from the IANS feed.