ICICI Bank s stand-alone Q4 net profit up 189%

Mumbai May 3 (IANS) Private sector lending major ICICI Bank on Wednesday reported an exponential rise of 189 per cent in its stand-alone net profit for the fourth quarter (Q4) of Fiscal 2016-17.

The bank s net profit rose to Rs 2 025 crore from Rs 702 crore reported in the fourth quarter of FY 2015-16.

The net interest income increased by 10 per cent on a year-on-year (YoY) basis to Rs 5 962 crore during the quarter under review from Rs 5 404 crore in the quarter ended March 31 2016.

Non-interest income was Rs 3 017 crore (US$ 465 million) in Q4-2017 compared to Rs 2 978 crore (US$ 459 million) excluding gains of Rs 2 131 crore (US$ 329 million) on sale of stake in insurance subsidiaries in Q4-2016 the private lender said in a statement.

--IANS
rv/vt