Private sector lending major ICICI Bank in October reported an exponential rise in standalone net profit for the second quarter of 2020-21. Accordingly, the lender’s net profit rose to Rs 4,251 crore ($576 million) in the quarter ended September 30, 2020 from Rs 655 crore ($89 million) reported for the corresponding quarter of the previous fiscal.

“Core operating profit (profit before provisions and tax, excluding treasury income) grew by 18 per cent year-on-year to Rs 7,719 crore ($1 billion) in Q2-2021,” the bank said in a statement.

“Total deposits grew by 20 per cent year-on-year to Rs 832,936 crore ($112.9 billion) on September 30, 2020,” it added. According to the lender, net interest income (NII) increased by 16 per cent year-on-year to Rs 9,366 crore ($1.3 billion) in Q2-2021 from Rs 8,057 crore ($1.1 billion) in Q2-2020.