ICICI Bank reported interest income earned during the quarter at Rs 37,948.36 crore which was up by 22.33% from Rs 31,021.13 reported in the year ago period.
Company’s board of directors have recommended a dividend of Rs 10 per share for FY2024.
The interest expended during the said quarter stood at Rs 18,855.56 crore which was up from Rs 13,354.34 – a YoY gain of 41%.
Bank’s board also approved fund raising via issuances of debt securities that will include non-convertible debentures (NCDs) in domestic markets up to an overall limit of Rs 25,000 crore. The Board has also authorised buyback of debt securities within the limits that the Board is authorised to approve under applicable law, the company filing said.Key takeaways
- Bank’s Capital Adequacy Ratio (CAR) for the reporting quarter stood at Rs 16.33% which is up sequential from 14.61% in Q3FY24 and down YoY from 18.34% in Q4FY23.
- Gross NPAs were down on a YOY and QoQ basis. In the January-March quarter of FY24, GNPA was reported at Rs 27,961.68 down from Rs 28,774.63 crore in Q3FY24 and Rs 31.183.70 in Q4FY23.
- Profit before tax (PBT) excluding treasury grew by 19.2% YoY to Rs 14,602 crore in the quarter ended March 31, 2024.
- Core operating profit grew by 10.5% YoY to Rs 15,320 crore in Q4-2024. It grew by 18.3% YoY to Rs 58,122 crore in FY2024.
- For full year ended March 31, 2024, PAT grew by 28.2% YoY to Rs 40,888 crore.
- Total period-end deposits grew by 19.6% YoY to Rs 14,12,825 crore at the end of March 31, 2024.
- Average current account and savings account (CASA) ratio was 38.9% in Q4-2024.
- Domestic loan portfolio grew by 16.8% YoY to Rs 11,50,955 crore in March ended quarter
- Net NPA ratio declined to 0.42% at March 31, 2024 from 0.44% at December 31, 2023
- Provisioning coverage ratio on non-performing assets was 80.3% at March 31, 2024
On the consolidated basis (PAT) increased by 18.5% YoY to Rs 11,672 crore in Q4FY24 from Rs 9,853 crore in Q4FY23. Consolidated assets grew by 20.7% YoY to Rs 23,64,063 crore at March 31, 2024 from Rs 19,58,490 crore at March 31, 2023.
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