ICICI Bank has clocked 66.2% growth in the net profits to Rs 1,053 million for the FY 99-2000 over the previous period. In the last quarter the bank has recorded a profit of Rs 329.4 million against Rs 192.6 million in the corresponding previous quarter. The higher growth in the net profit is due to reduction in the cost because of adoption of latest technology by the bank.
Operating profit of the bank in FY 99-2000 grew 57% to Rs 1,859 million against 1,185 million in the previous period. During the same period Advances given by bank rose 49% to Rs 50,309.6 million and Deposits increased by 62% to Rs 98,860.2 million.
ICICI Bank's net Non Performing Assets(NPAs) declined to 1.14% from 1.8% in the previous period. Alsothe capital adequacy ratio of the bank is higher at 19.64% as against 9% stipulated by RBI.
During the year the bank has achieved its target of registering more than one lakh internet banking users.
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