ICICI Bank on Friday posted a net loss of Rs 119.55 crore for the quarter ended June against profit of Rs 2,049 crore in the corresponding quarter last year.Provisions of the private sector lender jumped 128.86 per cent YoY to Rs 5971 crore for the quarter under review. Asset quality of the lender improved with percentage of gross non-performing assets (NPA) came in at 8.81 per cent in Q1FY19 over 8.84 per cent in the sequential quarter ended March 2018. Percent of net NPA eased to 4.19 per cent from 4.77 per cent during the same period. Net interest income (NII) of the bank jumped 9.16 per cent YoY to Rs 6,102 crore in Q1FY19 against Rs 5,590 crore in the same period last year.Mark-to-market losses on the AFS and HFT portfolio aggregated Rs 219 crore in Q1FY19. “While RBI had allowed the banks to spread such provisioning for such mark-to-market losses over up to four quarters, the Bank provided for such losses in Q1-2019 itself,” ICICI Bank said in a release.
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