ICICI Bank recorded a net profit of ₹7,558 crores in Q2FY23 up 37% from ₹5,511 crores in the same quarter last year. Net interest income (NII) jumped 26% year-on-year to reach ₹14,787 crores in Q2FY23 vs. ₹11,690 crore in the second quarter of FY22. Net interest margin was 4.31% in Q2FY23. The quality of the bank’s assets improved during the quarter, while advances and deposits recorded double-digit growth. Banking stocks will be the center of attention next week after the second quarter results.
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