ICICI bank reported a 78% increase year-on-year in standalone net profit to ₹4,616 crore for the quarter ended June 30, 2021 owing to higher net interest come and lower provisions. Net interest income, the difference between interest earned and interest expended, rose 18% year on year to ₹10,936 crore in Q1 FY22 from ₹9,280 crore in Q1 FY21. Net interest margin stood at 3.89% in Q1 FY22 compared to 3.69% in Q1 FY21. As of June 30, the bank had restructured loans worth ₹3,891 crore under the Reserve Bank of India's one time restructuring scheme. This included retail loans worth ₹925 crore and corporate loans worth ₹2,956 crore.

Source: Mint July 24, 2021 13:07 UTC