ICICI Bank, India's second largest lender, has reported a 21 per cent jump in its net profit for the fourth quarter ended March 31, 2013, on the back of
higher earnings from loans.
The bank posted a net profit of Rs 2,304.07 crore for the January-March period, compared to Rs 1,901.76 crore recorded in the like period of last year, registering an year-on-year growth of 21.15 per cent.
ICICI Bank's total income increased to Rs 12,573.52 crore in the fourth quarter of 2012-13, compared to Rs 11,403.10 crore recorded in the same period of previous year, the lender said in a statement.
The bank has grown its retail disbursements, with mortgage and auto
loan disbursements increasing by about 66 per cent and 22 per cent year-on-year, respectively, ICICI Bank statement said.
For the financial year 2012-13, the bank has posted a net profit of Rs 8,325.47 crore, compared to Rs 6,465.26 crore recorded in the previous financial year, registering an increase of 29 per cent.
The bank's net interest margin increased by 38 basis points from 2.73 per cent in financial year 2011-12 to 3.11 per cent in 2012-13.
Shares of ICICI Bank closed 2.82 per cent lower at Rs 1,144.30 at the Bombay Stock Exchange.
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