The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the quarter ended December 31, 2013.
Profit & loss account
- Operating profit increased by 29% to Rs 4,439 crore (US$ 718 million) for the quarter ended December 31, 2013 (Q3-2014) from Rs 3,453 crore (US$ 559 million) for the quarter ended December 31, 2012 (Q3-2013).
- Profit before tax increased by 21% to Rs 3,744 crore (US$ 606 million) for Q3-2014 from Rs 3,084 crore (US$ 499 million) for Q3-2013.
- Profit after tax increased by 13% to Rs 2,532 crore (US$ 410 million) for Q3-2014 from Rs 2,250 crore (US$ 364 million) for Q3-2013, after additional tax provision of Rs 215 crore (US$ 35 million) for deferred tax liability on Special Reserve; growth in profit after tax excluding this impact was 22%.
- Net interest income increased 22% to Rs 4,255 crore (US$ 688 million) in Q3-2014 from Rs 3,499 crore (US$ 566 million) in Q3-2013.
- Net interest margin increased by 25 basis points from 3.07% for Q3-2013 and 3.31% for Q2-2014 to 3.32% for Q3-2014. The domestic net interest margin was 3.67% and net interest margin of international branches was 1.70% for Q3-2014.
- Non-interest income increased by 26% to Rs 2,801 crore (US$ 453 million) in Q3-2014 from Rs 2,215 crore (US$ 358 million) in Q3-2013.
- Fee income increased by 13% to Rs 1,997 crore (US$ 323 million) in Q3-2014 from Rs 1,771 crore (US$ 287 million) in Q3-2013.
- Cost-to-income ratio was maintained sequentially at 37.0% in Q3-2014.
- Profit before tax increased by 24% to Rs 10,228 crore (US$ 1.7 billion) for the nine months ended December 31, 2013 from Rs 8,253 crore (US$ 1.3 billion) for the nine months ended December 31, 2012
- Profit after tax increased by 19% to Rs 7,158 crore (US$ 1.2 billion) for 9M-2014 from Rs 6,021 crore (US$ 974 million) for 9M-2013, after additional tax provision of Rs 215 crore (US$ 35 million) for deferred tax liability on Special Reserve; growth in profit after tax excluding this impact was 22%.
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