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Friday, October 27, 2017

ICICI Bank September Quarter Profit Falls 34% where as Vijaya bank's net profit grew by 20%

ICICI Bank Ltd, India's third-biggest lender by assets, reported a 34 per cent fall in second-quarter profit, missing analysts' estimates.

Net profit fell to Rs. 2,058 crore in the quarter ended September 30, from Rs. 3,102 crore a year earlier, the bank said on Friday.

 Analysts on average had expected a profit of Rs. 2,491 crore, Thomson Reuters data shows.

Gross bad loans as a percentage of total loans stood at 7.87 per cent at end-September, versus 7.99 per cent at end-June and 6.12 per cent a year ago.


Vijaya Bank’s September quarter net profit grew by 20 percent at Rs 185.5 crore against Rs 154.5 crore reported during the same period last year.
NET Interest Income rose by 22 percent at Rs 1,008.4 crore against Rs 827.8 crore year on year.
Asset quality witnessed an improvement as gross NPAs were reported at Rs 6,648.6 crore against Rs 6,812.2 crore in the previous quarter, while net NPAs were reported at Rs 4,472.9 crore as against Rs 4,784.3 crore in the June quarter.
The gross NPA ratio was at 7.06 percent against 7.3 percent quarter on quarter, while net NPAs were seen at 4.86 percent against 5.24 percent

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