ICICI Bank Ltd has reported a 33 per cent rise in net profit at Rs 440.1 crore (Rs 4.40 billion) for the third quarter ended December 31, 2003, compared to Rs 330.3 crore (Rs 3.30 billion) in the same period last fiscal.

Total income in the period under review also increased to Rs 3,004.71 crore (Rs 30.05 billion) as against Rs 2,826.53 crore (Rs 28.26 billion) in Q3 of FY03, the country's largest private sector bank said in a release in Mumbai on Thursday.

For the nine months, the net profit grew by 36 per cent at Rs 1,182 crore (Rs 11.82 billion) [Rs 868 crore (Rs 8.68 billion) in the corresponding period of the last fiscal].

On a consolidated basis, ICICI Bank group in Q3 has posted a net profit of Rs 440.75 crore (Rs 4.41 billion) [Rs 308.96 crore (Rs 3.09 billion)] and income from operations rose to Rs 3,502.83 crore (Rs 35.03 billion) [Rs 3,095 crore (Rs 30.95 billion)].

The net interest income and fee income in Q3 of FY04 rose to Rs 485 crore (Rs 4.85 billion) [Rs 343 crore (Rs 3.43 billion)] and Rs 305 crore (Rs 3.05 billion) [Rs 216 crore (Rs 2.16 billion)], respectively.

ICICI Bank's retail assets increased by 85 per cent at Rs 28,265 crore (Rs 282.65 billion) as on December end 2003. The home loan disbursements during nine months of the fiscal were Rs 8,641 crore (Rs 86.41 billion). The total sell-down/securitisation of assets was Rs 7,900 crore (Rs 79 billion) in the same period.

The deposits increased 26 per cent to Rs 60,872 crore (Rs 608.72 billion) from Rs 48,169 crore (Rs 481.69 billion) in March 2003. The bank also repaid Rs 6,000 crore (Rs 60 billion) of erstwhile ICICI's liabilities.

The bank's net restructured assets were Rs 7,410 crore (Rs 74.10 billion), a decline of Rs 3,081 crore (Rs 30.81 billion) since end June 2003. The net non-performing assets constituted 4.7 per cent of customer assets, it added.