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Stock to Watch: ICICI Bank Profit Shines

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 Net profit for the quarter jumped 158% to Rs. 4,146 crore. Decreases in the provision, other income and other credit parameters have contributed to this. In comparison, last year the Bank had posted a profit of Rs.1605-cr.

Private sector lender ICICI Bank posted impressive results for the third quarter (Q3FY20) of this financial year, today when markets off.

 Net interest income rose 24 percent to Rs.8545-crore. Net-Interest-Margins grew by 3.37 percent in the quarter under review V/s 3.64% in Sept 2019 and 3.40% in Dec 2018. Avail the best stock tips today and the most updated  Stock tips for tomorrow from the website.

The net Non-Performing-Assets ratio slipped from 2.58 percent to 1.49 percent, year on year. Provisions, excluding taxes, dropped by 51 percent, year on year to Rs2,083-crore on 31 Dec 2019.

On Friday, shares of ICICI Bank ended at Rs.535.45-per unit, higher by 1.47% from the previous closing of Rs.527.70 on the NSE.

ICICI Bank stock will track on markets on the coming Monday since the result was reported on Saturday.