ICICI Bank, India's second-largest private sector lender by assets, on Wednesday reported a 2.7 percent year-on-year (YoY) fall in net profit at Rs 1,604.9 crore for the third quarter ended December 2018, on higher provisions .

In the corresponding quarter last year, the company posted a net profit of Rs 1,650.24 crore. CNBC-TV18 Polls had predicted a profit of Rs 1,791.7 crore for the quarter under review.

The total income rose to Rs 20,163.25 crore during the quarter as compared to 16,832.22 crore in the same period a year ago, ICICI Bank said in a statement.

Bank's provisions for bad loans soared to Rs 4,244 crore in the December quarter, up from Rs 3,570 crore in the same period previous year.

The treasury income was Rs 479 crore in Q3FY19 compared to Rs 66 crore in Q3FY18. Total advances increased by 12 percent YoY to Rs 564,308 crore at December 31, 2018 from Rs 505,387 crore at December 31, 2017.

CASA deposits increased by 15 percent YoY to Rs 299,374 crore at December 31, 2018. The bank’s CASA ratio stood at 49.3 percent at December 31, 2018. The bank had a network of 4,867 branches and 14,944 ATMs at December 31, 2018.

Shares of ICICI Bank settled at Rs 365.25 apiece, up 5.29 percent on the BSE.

First Published:Jan 30, 2019 5:39 PM IST