Mumbai July 27 (IANS) Private lender ICICI Bank on Friday reported a net loss of Rs 120 crore on a standalone basis for the first quarter of 2018-19.
The lender had reported a net profit of Rs 2 049 crore during the corresponding period of the previous financial year.
However the banking major s net interest income grew to Rs 6 102 crore during the quarter ended June 30 2018 compared to Rs 5 590 crore in the corresponding period of the previous fiscal.
"Overall net interest margin of 3.19 per cent in Q1-2019 compared to 3.23 per cent in FY2018 " the banking major said in a statement.
As per the statement the net NPA (non-performing asset) ratio decreased from 4.77 per cent at March 31 2018 to 4.19 per cent at June 30 2018.
"While the gross additions to NPA at Rs 4 036 crore were the lowest in the last 11 quarters additional provisions on existing NPAs as per Reserve Bank of India (RBI) guidelines resulted in total provisions of Rs 5 971 crore and a net loss of Rs 120 crore in Q1-2019 " the statement said.
On a consolidated basis the bank s profit after tax plunged to Rs 5 crore ($1 million) in Q1-2019 compared to Rs 2 605 crore ($380 million) in Q1-2018.
"Consolidated assets grew by 12 per cent from Rs 984 702 crore at June 30 2017 to Rs 1 098 790 crore at June 30 2018 " the statement added.

--IANS rv/sed