U.S. markets close in 6 hours 25 minutes
  • S&P 500

    3,942.57
    +1.09 (+0.03%)
     
  • Dow 30

    31,908.60
    -20.02 (-0.06%)
     
  • Nasdaq

    11,269.35
    +4.91 (+0.04%)
     
  • Russell 2000

    1,764.83
    -27.94 (-1.56%)
     
  • Crude Oil

    110.44
    +0.67 (+0.61%)
     
  • Gold

    1,850.90
    -14.50 (-0.78%)
     
  • Silver

    21.85
    -0.21 (-0.94%)
     
  • EUR/USD

    1.0667
    -0.0071 (-0.66%)
     
  • 10-Yr Bond

    2.7240
    -0.0360 (-1.30%)
     
  • GBP/USD

    1.2517
    -0.0015 (-0.12%)
     
  • USD/JPY

    127.2040
    +0.3750 (+0.30%)
     
  • BTC-USD

    29,604.72
    +340.29 (+1.16%)
     
  • CMC Crypto 200

    657.71
    -13.29 (-1.98%)
     
  • FTSE 100

    7,517.21
    +32.86 (+0.44%)
     
  • Nikkei 225

    26,677.80
    -70.34 (-0.26%)
     

ICICI Bank quarterly profit falls 28%

  • Oops!
    Something went wrong.
    Please try again later.
A man speaks on the phone outside an ICICI Bank branch in Kolkata
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

NEW DELHI (Reuters) - India's second-largest private-lender, ICICI Bank <ICBK.NS>, reported a 28% fall in net profit in the quarter ended Sept. 30 due to a one-time charge related to deferred taxes.

Net profit fell to 6.5 billion Indian rupees ($91.79 million) in the second quarter compared with 9.09 billion rupees the same time last year.

Asset quality improved with gross non-performing assets (NPAs) at 6.37% compared to 8.54% in the corresponding quarter a year ago.

Net NPA also improved to 1.60%.

Net interest margin, a key indicator of bank profitability, stood at 3.64%.

The bank remains well-capitalised with a capital adequacy ratio of 16.14% at the end of September.

($1 = 70.9470 Indian rupees)

(Reporting by Devjyot Ghoshal; Editing by Stephen Coates)