News: ICICI Bank Q2 net up 30%

(PTI 24/10/2006) Mumbai - ICICI Bank has reported a 30.2% increase in net profit at Rs 755.01 crore for the second quarter ended September 30, 2006 when compared with Rs 580.05 crore in the same period last year.

According to a release issued by the bank, second quarter total income surged 58.5% to Rs 7,039.56 crore from Rs 4,440.88 crore in the year-ago period.

Net interest income was up 47% at Rs 1,577 crore for Q2FY07, from Rs 1,070 crore in Q2FY06. Advances for the quarter grew 45%, while deposits were up 57.3%.

Net profit for the half-year ended September 2006 was up 23.9% at Rs 1,375.02 crore as against Rs 1,110.06 crore in HIFY06. Total income was up 54.5% at Rs 13,355.75 crore from Rs 8,647.37 crore.