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ICICI Bank posts Rs 1,908 crore profit in Q1; asset quality improves

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ICICI Bank on Saturday reported a standalone net profit of Rs 1,908 crore for the first quarter ended June 2019. The bank had posted a net loss of Rs 120 crore in the same quarter a year ago. Total income on standalone basis in the reported quarter rose to Rs 21,405.50 crore from Rs 18,574.17 crore a year earlier, the bank said in a regulatory filing. The lender witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 6.49 per cent of the gross advances by the end of June 2019, from 8.81 per cent a year ago.

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