ICICI Bank s net profit declines 8% (Lead)

Mumbai July 27 (IANS) Private sector ICICI Bank on Thursday reported a decline of 8.21 per cent in its standalone net profit for the first quarter ended June 30 2017 at Rs 2 049 crore compared to Rs 2 232.35 crore in the same period last year.

According to the bank its total income for the first quarter of 2017 stood at Rs 16 847.04 crore -- up 0.52 per cent -- as compared to Rs 16 759.51 crore reported during the corresponding quarter of 2016.

"Net interest income increased by 8 per cent on a year-on-year basis to Rs 5 590 crore ($866 million) in the quarter ended June 30 2017 from Rs 5 159 crore ($799 million) in the quarter ended June 30 2016 " the bank said in a statement.

On a consolidated basis the bank s net profit rose by 3.53 per cent to Rs 2 604.73 crore during the quarter under review from Rs 2 515.85 crore during Q1 of the previous year.

The total income of the bank in Q1 FY18 stood at Rs 26 517.57 crore -- up 8.30 per cent- from Rs 24 483.75 crore reported during Q1 FY17.

The bank s scrip on the BSE closed 1.02 per cent lower at Rs 307.05 per share.

--IANS
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