ICICI Bank profit slumps 30 pc in third quarter

Bonds will be issued with six different maturities and coupon rates for infusing capital in public sector banks

Net interest income grew by 6 per cent to Rs 5,705 crore in the quarter under review compared to Rs 5,363 crore in the corresponding quarter of 2016-17.

Private sector lender, ICICI Bank, reported a drop of 32 percent in the Q3 net profit at Rs 1,650 crore against Rs 2,442 crore posted during the same period previous year. Rising bond yields in the Oct-Dec quarter has led to lower treasury gains for the banks.

Meanwhile, the net NPAs fell to Rs 23,810 crore against Rs 24,129 crore quarter on quarter. Most of the funds will be utilised to make provisions for bad loans and the bank may issue fresh equity next fiscal to meet growth requirements and to bring down government stake to 75%. Also, the net interest margin remained flat at 3.3 per cent on a quarter-on-quarter basis.

CASA deposits increased by 12% year-on-year which is now 50.4% of the total deposits.

No Smoke Without Fire: The Dangers of Vaping
To begin the study , the researchers tested how known cancer-causing chemicals found in regular cigarettes damaged a DNA sample. They then tested how various chemicals used in e-cigarettes affected DNA. "Based on these results we propose that.

Gross non-performing assets (NPAs) rose 20.88% to Rs46,038.70 crore at the end of the December quarter from Rs38.084.97 crore in the same quarter a year ago. It has already sold strategic shareholding in companies that it helped promote, like Small Industries Development Bank (SIDBI) and Clearing Corporation of India (CCIL), and has raised over Rs 2,000 crore during the quarter ended December.

Gross bad loans as a percentage of total loans stood at 7.82 % at the end of December, compared with 7.87 % at September 30 and 7.2 % a year earlier.

So far, in this year the bank has raised Rs 2008 crore through sale of its stake in Sidbi and Clearing Corporation of India. The bank expects provisioning to stay elevated in the next few quarters.

Also, unlike its peers, bank did not have to disclose any "divergences" in NPA recognition from the RBI's risk-based supervision exercise which got completed during the quarter. While its core operations might not have left much for investors to cheer, positive trends in asset quality offer hope. Retail loans account for 54 per cent of the loan portfolio of the bank.

Related news:

Hot News

isis-killer-beheading-video-story-top Rep. Trey Gowdy says he won't seek re-election
Feb 01, 2018 - 00:53
Now, Gowdy is a key member of one of the Russian Federation probes in Congress and the leader of a renewed investigation into the FBI and Clinton's emails.

isis-killer-beheading-video-story-top Top male BBC earners agree to pay cut after gender gap furor
Feb 01, 2018 - 00:50
The broadcaster said that it has "addressed close to half of them and are working through the rest with the people concerned". Broadcasters John Humphrys, Huw Edwards, Nicky Campbell, Jon Sopel, Nick Robinson and Jeremy Vine reduced their salaries.

isis-killer-beheading-video-story-top Winter Olympics 2018: Cas verdict on 39 banned Russians due on Thursday
Feb 01, 2018 - 00:49
He said Russia considers the decisions not to allow some Russian athletes to take part in the 2018 Olympics to be odd . Among them are speed skaters Ivan Skobrev, a two-time medalist at the Vancouver 2010 Games, and Artem Kuznetcov.

isis-killer-beheading-video-story-top Ronda Rousey makes WWE debut, expected at Wrestlemania 34
Jan 31, 2018 - 06:09
She made the move official last night when she made an appearance at the Royal Rumble in Philadelphia. "This is my life now". Taz also added the fact that Ronda Rousey hasn't earned anything or hasn't beaten anyone in the WWE yet.

isis-killer-beheading-video-story-top Indonesian police 'coach' transgender women to act like 'real men'
Jan 31, 2018 - 06:08
The official said his actions were approved by local ulama (Islamic clergy) and that those detained would also undergo drug tests. Additionally, the province of Aceh implements its own autonomous sharia law, and gay behavior is considered a crime.

isis-killer-beheading-video-story-top Iranian women protest obligatory headscarf; Twitterati praise the bravery
Jan 31, 2018 - 06:07
One of the women taking part in the protests was arrested after staging a protest on the same busy street in apparent solidarity. The first such act of protest occurred in December and was staged by Vida Movahed, who was eventually arrested .

isis-killer-beheading-video-story-top Clinton Issues Statement Explaining Why She Shielded Sexual Harasser in 2008
Jan 31, 2018 - 06:07
She refused to apologize for keeping Strider on, but did say that if she had to do it again, she "wouldn't". He needed to be punished, change his behavior, and understand why his actions were wrong.

isis-killer-beheading-video-story-top JB Holmes Lit Up By Peers After Slow Play
Jan 30, 2018 - 01:12
Despite his success on the European Tour, Noren is little known in the United States - and he's happy to fly under the radar. Earlier, Tiger Woods finished with an even-par 72 to finish tied 23rd, wrapping up a positive return to the tour.

Local gas prices rise to 4-month high
Jan 30, 2018 - 01:10
Gas prices usually drop in January as holiday-related travel subsides, but this year they have risen significantly. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic.

isis-killer-beheading-video-story-top Trump apologizes for retweeting anti-Muslim videos from British far-right group
Jan 29, 2018 - 03:34
The interview will take place in Davos, where politicians and business leaders have gathered for the World Economic Forum . Without providing specifics, Trump said in an interview with Britain's ITV that he would have used different tactics.

isis-killer-beheading-video-story-top Saudi Prince Alwaleed Bin Talal Released From Hotel Detention
Jan 29, 2018 - 03:32
His refrigerator was stocked with vegetarian meals as requested, and he had tennis shoes for exercise, Reuters reported. But Prince Alwaleed says he expects to keep all his assets and full control of his investment firm Kingdom Holding Co.

isis-killer-beheading-video-story-top 'Vicky Gounder was in touch with Hong Kong-based Sikh radical'
Jan 28, 2018 - 00:29
Punjab Police was chasing for the 28-year-old when they received the information regarding his whereabouts from a reliable source. The village is situated almost 50 km from Vicky's native place Sarawan Bodla in Lambi constituency of Muktsar district.

isis-killer-beheading-video-story-top Baggies send Liverpool packing in Anfield rollercoaster
Jan 28, 2018 - 00:29
Roberto Firmino opened the scoring after just six minutes, when he chipped the ball over Ben Foster . And four minutes later Rodriguez had his second by turning in a Chris Brunt cross.

isis-killer-beheading-video-story-top SpaceX Completes Falcon Heavy Initial Static Fire Test
Jan 28, 2018 - 00:28
According to SpaceX , this is over twice the capacity of United Launch Alliance's proven Delta IV Heavy at one-third of the cost. This was the first time SpaceX fired up Falcon Heavy , in a typical test that is critical to preparing a rocket for launch.

isis-killer-beheading-video-story-top Dog almost dies from severe burns after being dyed purple
Jan 27, 2018 - 16:44
When she arrived at the rescue , her eyes were swollen shut, she was limp, listless, and clearly in severe pain. The next day, Violet was put under anesthesia as her coat was shaved off. "Shes a very sweet little girl".