MUMBAI:
ICICI Bank posted a 20.63% increase net profit at Rs 878.22 crore for the first quarter ended June 30, 2009 when compared with Rs 728.01 crore for the quarter ended June 30, 2008.Total income declined from Rs 9,429.98 crore for the quarter ended June 30, 2008 to Rs 9,223.32 crore for the quarter ended June 30, 2009.The group posted a 68% increase in consolidated net profit of Rs 1,035.26 crore for the quarter ended June 30, 2009 when compared with Rs 617.27 crore for the quarter ended June 30, 2009. Total income declined from Rs 14.644.30 crore for the quarter ended June 30, 2008 to Rs 14,615.06 crore for the quarter ended June 30, 2009. According to a release issued by the bank today, current and savings account (CASA) ratio increased to 30.4% at the end of June 30, 2009 from 27.6% on June 30, 2008. The bank had strong capital adequacy ratio of 17.4% and tier-1 capital adequacy ratio of 13.%, the release added.Net interest income (NII) for Q1FY10 was Rs 1,985 crore when compared with Rs 2,090 crore in Q1FY09 - a decline of 5%. The net interest margin was maintained at 2.4%, the release added.The net non-performing assets ratio was 2.19% compared with 1.96% on March 31, 2009 reflecting the decline in the loan portfolio.Bank reduced nearly Rs 200 crore on direct market agent (DMA) expense in Q1FY10 at Rs 27 crore when compared with Rs 228 crore in Q1FY09.