New Delhi: India’s second-largest private-lender, ICICI Bank reported a 28 per cent fall in net profit in the quarter ended Sept. 30 due to a one-time charge related to deferred taxes.
Net profit fell to 6.5 billion Indian rupees (USD 91.79 million) in the second quarter compared with 9.09 billion rupees the same time last year.
Asset quality improved with gross non-performing assets (NPAs) at 6.37 per cent compared to 8.54 per cent in the corresponding quarter a year ago.
Net interest margin, a key indicator of bank profitability, stood at 3.64 per cent.
The bank remains well-capitalised with a capital adequacy ratio of 16.14 per cent at the end of September....