BusinessPhoto: Mint CompaniesICICI Bank Faces Margin Pressure in Q3 Due to FCNR-B Costs
ICICI Bank, India's second largest private-sector bank, expects a slight dip in its net interest margin (NIM) in the December quarter as the full cost of FCNR-B deposits raised in September impacts results. Executive director Sandeep Batra said margins should recover after Q3. The bank's NIM fell from 4.36% in June to 4.18% in September, while net interest income grew 17.7% year-on-year to ₹25,339 crore and profit before tax rose 20.4% to ₹19,724 crore.
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