From major companies to leading banks, the process of announcing second-quarter results continues. Two major banks also reported second-quarter results on Saturday. On one hand, ICICI Bank, the second largest private sector lender, saw a 14% growth in net profit, while on the other hand, Yes Bank saw a massive 145% jump in profits. The impact of these outperformance can also be seen in these bank stocks on Monday.
ICICI Bank’s earnings strong
First, let us talk about ICICI Bank and then let us tell you that the large private sector bank’s net profit grew by 14.47% in the September quarter and the profit figure for FY25 was Rs 11,746 crore. . 10,261 crore in the same quarter last year. In particular, ICICI Bank’s gross non-performing assets ratio fell to 1.97% as on September 30, 2024, from 2.15% as on June 30, 2024. The gross non-performing assets ratio in the second quarter of the last fiscal year was 2.48%.
ICICI Bank Stock Status
If we talk about ICICI Bank stock, the stock closed in the green zone despite a sharp fall in the stock market on the last trading day last week. The bank has a market capitalization of Rs 885 crore and its closing price on Friday was Rs 1,259.60. Its 52-week highest price was 1,362.35 rupees and the lowest price was 899 rupees. The impact of the stellar quarterly results could be seen in the bank’s share price on Monday.
Yes Bank earns huge profits
Now let’s talk about the second bank on the list, yes, it is Yes Bank and its profits grew significantly in the September quarter. The bank also announced its second-quarter results on Saturday and said its net profit rose 145.6% in three months. The company’s profit in the same quarter last year was Rs 225.21 crore, which has jumped to Rs 553 crore this year. Meanwhile, the bank’s interest income grew 14.3% year-on-year to Rs 2,200 crore.
Bank stocks could make a splash tomorrow!
If we look at Yes Bank’s stock, the bank’s stock also fell sharply in the market decline on the last trading day of last week and closed at Rs 19.50, down 2.60%. Shares of the bank with a market capitalization of Rs 60,850 crore opened at Rs 20.04 on Friday and later rose to Rs 20.12, but also fell due to the sudden market crash. Its performance has been relatively good over the past year, bringing investors a return of 22.26%, but it has suffered a serious decline in the past six months. Now the impact of huge quarterly results news will be felt on the bank stock on Monday.
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