India's largest private lender by loan book, ICICI Bank, on Friday announced that banks' net profit during the quarter ended in September fell by 34 percent on an year-on-year basis.
"We still await the final report from the RBI...the inspection process is going on and we will disclose them (the divergences, if any) in the third quarter..." ICICI has made the entire provisioning in the second quarter itself "on a prudent basis", the filing added.
ICICI Banks total provisions went up to Rs 4,502 crore as compared the quarter agos Rs 2,483 crore.
At ICICI Bank, gross NPA additions declined to Rs4,674 crore in the fiscal second quarter from Rs4,976 crore a quarter ago and Rs8,029 crore a year ago.
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The lender's gross non-performing assets, as a percentage of total advances, stood at 7.87 percent compared to 7.99 percent in the previous quarter.
While total assets showed a growth of 26.7 per cent to Rs 2,37,394.1 crore, total deposits were up 23.4 per cent over a year ago at Rs 1,57,989.8 crore.
Net interest income (interest earned less interest expended) was up 39 per cent year-on-year (y-o-y) at ₹420 crore.
Net profit for the first half of the fiscal declined to Rs 511.78 crore from Rs 585.86 crore in the year-ago period. She forecast domestic loan growth in the financial year to be about 15%, led by as much as a 20% rise in retail loans.
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Commenting on the fresh slippages during the quarter, Sharma said, "we have been able to control the slippages". About Rs 440 crore of loans in this pool have been sold to ARCs.
The bank said that it has exposure to 18 accounts that are part of a second list of defaulters compiled by RBI.
The management in an analyst call said about Rs 2,986 crore of the Rs 6,355 crore is upgraded from March to date with an approval of the Board and statutory auditors, while another Rs 1,715.85 crore has been repaid.
The total fund-based exposure to these 18 accounts which need to be resolved by December 31 is Rs 10,476 crore and the non-fund based exposure is Rs 1,384 crore.
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"The bank's asset quality continues to demonstrate resilience after duly incorporating the full impact of the RBS observations for 2016-17", Rana Kapoor, managing director & CEO of Yes Bank, said.