ICICI Bank Q4 Results: Private sector giant ICICI Bank’s net profit increased by 59 percent in the March 2022 quarter due to increase in income and decline in provision.
ICICI Bank Q4 Results: Private sector giant ICICI Bank’s net profit increased by 59 percent in the March 2022 quarter due to increase in income and fall in provision. The bank has today announced the March 2022 quarter results. The bank had a profit of Rs 7018.71 crore in the last quarter of the last financial year 2021-22, while in the March 2021 quarter, there was a profit of only Rs 4402.61 crore. Talking about the full financial year, in the financial year 2021-22, the net profit increased on an annual basis to Rs 23,339.49 crore.
The bank has also given information about the recommendation of dividend in the regulatory filing. The board, in its meeting today, has recommended a dividend of Rs 5 per share having a face value of Rs 2. However, it is yet to get the approval of the shareholders in the annual general meeting of the bank. Its shares closed on BSE on Friday (April 22) at a price of Rs 747.35.
Highlights of ICICI Bank’s Q4 result
- The bank earned a profit of Rs 7019 crore, up 59 per cent year-on-year in the March 2022 quarter.
- Total deposits grew 14 per cent year-on-year to Rs 10,64,572 crore. Term deposits rose 9 per cent to Rs 5.46 lakh crore.
- Net interest income grew by 21 per cent year-on-year to Rs 12,605 crore.
- The home loan portfolio grew by 17 per cent year-on-year.
- In terms of asset quality, net NPAs (non-performing assets) fell by 24 per cent to Rs 6961 crore on a year-on-year basis. Net NPA ratio fell to 0.76 per cent from 0.85 per cent at the end of December 2021 and 1.14 per cent at the end of March 2021.
- Net provision declined 63 per cent from Rs 2883 crore in March 2021 quarter to just Rs 1069 crore in March 2022 quarter.
(Input: BSE Filing)