By IANS,
Mumbai : The country’s largest private lender ICICI Bank Thursday reported a 13.4 percent fall in net profits for the third quarter ending Dec 31 at Rs.1,101 crore compared to Rs.1,272 crore posted in the like quarter last fiscal.
Total income of the bank also took a hit, slipping to Rs.7,762.7 crore in the October-December quarter compared to Rs.10,350.6 crore in the previous corresponding period.
However, standalone net profit of the bank rose 6 percent, when compared to the second quarter of the current fiscal.
Profit after tax was lower due to absence of treasury income, on account of increase in yields on government securities in the third quarter of 2009-10 compared to decline in yields in previous corresponding quarter, according to a company statement.
Non-performing assets decreased to Rs.4,416 crore for the quarter under review from Rs.4,558 crore in the second quarter of 2009-10.
The bank’s net non-performing asset ratio was at the same level as Sep 30, 2009 at 2.19 percent, it said.