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“Please note that on December 4, 2024, GST authorities initiated a search at three offices of ICICI Bank. The proceedings are on-going and the Bank is cooperating fully in providing data as per the request placed,” ICICI Bank said in a regulatory filing.
The bank stated that it is fully cooperating with the authorities and is providing the requested data.
Also Read: ICICI Bank shares can re-rate further, says Morgan Stanley
ICICI Bank reported a net profit of ₹11,745.9 crore in the September quarter, higher than Street estimates of ₹11,029.8 crore. It was also 14.5% higher than the previous year’s ₹10,261 crore.
Its net interest income was ₹20,048 crore, compared to a CNBC-TV18 poll of ₹19,995.1 crore. The NII was 9.5% more than last year’s ₹18,307.9 crore.
ICICI Bank’s gross non-performing assets (NPA) decreased to 1.97% from 2.15% in the first quarter of this fiscal. It reported a gross NPA of ₹27,121.15 crore, while in the June quarter, it was ₹28,718.6 crore.
On the other hand, its net NPA was 0.42% for the September quarter, compared to 0.43% in the previous quarter. Its net NPA came in at ₹5,685.14 crore, while in the June quarter, it was ₹5,684.8 crore.
Also Read: ICICI Bank credit card changes: New spending limits and higher fees from today
Shares of ICICI Bank Ltd ended at ₹1,315.25, up by ₹7.85, or 0.60% on the BSE.
