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ICICI Bank’s Mcap Rises To Rs 9.11 Lakh Cr

As shares climb over 3% pushing its market valuation by gains Rs 26,445 cr

ICICI Bank’s Mcap Rises To Rs 9.11 Lakh Cr

ICICI Bank’s Mcap Rises To Rs 9.11 Lakh Cr
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29 Oct 2024 12:36 PM IST

New Delhi: Shares of ICICI Bank on Monday climbed over three per cent after the private sector lender posted a 14.5 per cent growth in standalone profit at Rs11,746 crore in the second quarter ended September 2024. The stock jumped 2.96 per cent to settle at Rs1,292.65 on the BSE. During the day, it surged 4.16 per cent Rs1,307.80. At the NSE, it climbed 3.10 per cent to Rs1,294.40. The stock emerged as the biggest winner among Sensex firms. The company's market valuation soared Rs26,445.04 crore to Rs9,11,095.63 crore.

The BSE Sensex jumped 602.75 points or 0.76 per cent to settle at 80,005.04 and the NSE Nifty surged 158.35 points or 0.65 per cent to 24,339.15. The private sector lender had earned a net profit of Rs10,261 crore in the September quarter of the previous financial year. The total income increased to Rs47,714 crore during the quarter under review, as against Rs40,697 crore in the same quarter last year, ICICI Bank said in a regulatory filing. The bank reported an interest income of Rs40,537 crore during the quarter compared to Rs34,920 crore in the year-ago period. The net interest income (NII) improved by 9.5 per cent to Rs20,048 crore from Rs18,308 crore in the second quarter of the previous year.

On the asset quality front, the bank witnessed improvement with gross non-performing assets (NPAs) declining to 1.97 per cent of the gross loans by the end of September 2024, as against 2.48 per cent a year ago. Similarly, net NPAs or bad loans moderated to 0.42 per cent from 0.43 per cent at the end of the second quarter of the previous fiscal. On a consolidated basis, the bank logged a growth of 19 per cent in net profit to Rs12,948 crore against Rs10,896 crore in Q2 FY24.

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