During the period, net interest income (NII) of the bank increased 20 percent on yearly basis to Rs 4,043 crore (USD 646 million), slightly higher than analysts' expectations.
During the quarter there were several developments in the economic environment - growth remained muted, financial markets were volatile and there were several monetary actions, despite this challenging environment, ICICI Bank managed to beat street estimates, MD and CEO Chanda Kochhar said as she announced the bank’s second quarter earnings.
The bank reported 20.2 percent rise in its second quarter (July September) net profit over Q2 of FY13 to Rs 2,352 crore (USD 376 million) on higher net interest income and fee income.
During the period, net interest income (NII) of the bank increased 20 percent on yearly basis to Rs 4,043 crore (USD 646 million), slightly higher than analysts' expectations. (Read More)
Addressing the media, Kochhar highlighted about various segments of the business which contributed to this healthy performance of the private sector lender.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.