ICICI BANK BIGGEST RISE EVER
ICICI Bank's December quarter profit rises 158% to ₹4,416 crore
ICICI Bank reported a 158% rise in standalone net profit at ₹4,416 crores during the October-December period compared. The bank net interest income rose 24% from the year ego period to 8,545 crores while its upgrades and bad loan recoveries were at ₹4,088 crores during the third quarter. Gross bad loan ratio fell to 5.95% from 6.37% in the previous quarter.
The main reason for this increment is the interest rate of credit cards. Nowadays with the help of third parties the bank increase the number of users of credit cards, so as we know that its a human nature of forgetting and this pulled them people in a trap and help banks by charging a heavy interest rate. Probably it's a big achievement for ICICI banks.
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| Credit card of ICICI Bank |
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