ICICI Bank profit spurts 20% on NII; core profitability a tad lower on FCNR(B)
ICICI Bank reported a 20% rise in second-quarter net profit, helped by an 18% increase in core net interest income. However, core profitability edged lower as FCNR(B) deposits weighed on margins. NIM fell to 4.18%, while treasury operations swung to a loss amid higher government bond yields.
Mumbai: HDFC Bank posted relatively modest second quarter profit growth at 4.7% as margin pressures and hardening bond yields in part offset the impact of accelerating asset and deposit growth. The lender will welcome a new chief executive this month, ending protracted uncertainty over succession.AgenciesStandalone net profit was 19,510 crore, up from 18,640 crore a year earlier, aided by higher net interest income (NII) and a swelling loan book.
