ICICI Bank Q2 Net Profit Declines 28%

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Mumbai: ICICI Bank has reported a 27.94 percent decline in standalone net profit for the second quarter of 2019-20.

As per reports, the bank’s net profit in Q2 declined to Rs 655 crore from Rs 909 crore in the year-ago quarter.

Excluding the impact of one-time additional charge due to the re-measurement of accumulated deferred tax, profit after tax would have been Rs 3,575 crore in Q2FY20 against Rs 909 crore in Q2FY19, the bank said in a statement.

Besides, the net interest margin was 3.64 percent in Q2FY20 against 3.61 percent in Q1FY20 and 3.33 percent in Q2FY19, the private sector lending major said.

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