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 June 30, 2010.

Profit & loss account
  • Profit after tax increased 17% to Rs. 1,026 crore (US$ 221 million) for the quarter ended June 30, 2010 (Q1-2011) from Rs. 878 crore (US$ 189 million) for the quarter ended June 30, 2009 (Q1-2010).
  • Fee income increased 7% to Rs. 1,413 crore (US$ 304 million) in Q1-2011 from Rs. 1,319 crore (US$ 284 million) in Q1-2010.
  • Operating expenses (including direct marketing agency expenses) decreased 2% to Rs. 1,461 crore (US$ 315 million) in Q1-2011 from Rs. 1,494 crore (US$ 322 million) in Q1-2010.
  • Provisions decreased 40% to Rs. 798 crore (US$ 172 million) in Q1-2011 from Rs. 1,324 crore (US$ 285 million) in Q1-2010.

Balance sheet

The Bank continued to invest in expansion of its branch network to enhance its deposit franchise and create an integrated distribution network for both asset and liability products. The branch network of the Bank has increased to 2,016 branches at June 30, 2010, the largest branch network among private sector banks in the country.

CASA deposits increased 32% to Rs. 84,618 crore (US$ 18.2 billion) at June 30, 2010 from Rs. 63,977 crore (US$ 13.8 billion) at June 30, 2009 and the CASA ratio increased to 42.1% at June 30, 2010 from 30.4% at June 30, 2009.

Total deposits of the Bank were Rs. 200,913 crore (US$ 43.3 billion) at June 30, 2010, compared to Rs. 202,017 crore (US$ 43.5 billion) at March 31, 2010. The loan book of the Bank increased to Rs. 184,378 crore (US$ 39.7 billion) at June 30, 2010 from Rs. 181,206 crore (US$ 39.0 billion) at March 31, 2010.