ICICI Bank Q3 Results: Net profit jumps 23.6% to Rs 10,271.5 crore, better than analysts' expectations

ICICI Bank, the country's second largest private sector lender, on Saturday reported a 23.6 per cent year-on-year increase in standalone net profit to Rs 10,271.5 crore for the October-December period, better than analysts' estimates. 

Its net interest income (NII), or the difference between interest earned and interest paid, grew 13.4 per cent to Rs 18,678.6 crore for the fiscal third quarter, according to a regulatory filing.

ICICI Bank's net interest margin (NIM), a key measure of profitability for lenders, contracted to 4.43 per cent for the quarter ended December 2023, from 4.53 per cent three months before, and 4.65 for the quarter ended December 2022.

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According to Zee Business research, ICICI Bank's quarterly net profit was estimated at Rs 10,000 crore, net interest income at Rs 18,460 crore and net interest margin at 4.40 per cent. 

ICICI Bank shares ended stronger by Rs 9.2, or 0.9 per cent, at Rs 1,008.3 apiece on BSE ahead of the earnings announcement.

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