Net profit of ICICI Bank rose 25 per cent to Rs 2,274 crore in the April-June 2013 quarter compared to Rs 1,815 crore in the year-ago period.
Net profit rose because of steady growth in interest income and higher margins. Net interest income (the difference between interest earned and expended) rose 20 per cent to Rs 3,820 crore.
Other income jumped 32 per cent on healthy trading profit, fee income and dividend from subsidiaries. During the quarter, net interest margin increased to 3.27 per cent from 3.01 per cent in the year-ago period.
The bank posted 0.82 per cent growth in net non-performing assets which led to higher provisioning at Rs 593 crore, up 27 per cent from Rs 466 crore.
During the quarter, consolidated (including profit from its subsidiaries) net profit rose 32 per cent to Rs 2,747 crore against Rs 2,077 crore in Q1 FY13.
On the back of growth in the retail segment (27 per cent), total advances grew 12 per cent year-on-year as on June 30.
Owing to slowdown in the past two quarters, commercial vehicle loan growth declined 19 per cent. The corporate loan book grew 14 per cent, mainly due to demand for working capital and refinancing of loans.