ICICI Bank's Q3 net jumps 34% YoY on robust net interest income growth

Bank adopts more conservative norms on NPA provisioning due to macro risks

Private sector lender ICICI Bank on Saturday reported a 34.2 per cent year-on-year (YoY) increase in its standalone net profit in the October-December quarter (Q3) of FY23 to Rs 8,311.85 crore boosted by firm growth in net interest income.

On a sequential basis, the private bank’s net profit rose 10 per cent from Rs 7,557.84 crore in the July-September quarter.

ICICI Bank’s core operating profit, which is the profit before provisions and tax excluding the treasury income, grew 31.6 per cent year-on-year to Rs 13,235 crore in October-December.

In October-December, ICICI Bank’s net interest income – the