ICICI Bank reported a 15.9% rise in first-quarter net profit, driven by strong growth in net interest income, robust fee income and lower provisions, joining other big Indian lenders in a spirited April-June showing. Net profit rose to ₹14,805 crore in the quarter ended June 30 from₹12,768 crore a year earlier, said ICICI, the country's second biggest bank by market value.
Net interest income grew 12.7% year-on-year to ₹24,384 crore, while fee income increased 23.5% to ₹7,286 crore. Non-interest income, including fee income and treasury income, was largely flat at ₹8,547 crore, compared with ₹8,504 crore in the year-ago quarter. Net interest margin (NIM) stood at 4.36% in the quarter, compared with 4.34% a year ago.
