ICICI Bank reported a 17.4% increase in net profit for the fourth quarter to ₹ 10,708 crore. Interest income was ₹ 19,093 crore. The bank plans to distribute a dividend of ₹ 10 per share.
On Saturday, April 27, the private bank ICICI disclosed the Q4FY24 figures, which correspond to the fourth quarter of the 2024 fiscal year. The bank's net profit climbed to ₹10,708 crore in the January-March quarter on an annual basis (YoY) of 17.4%.
In Q4FY23, the same quarter previous year, the bank's net profit was ₹9,122 crore. The bank's Net Interest Income (NII) grew to Rs 19,093 crore in the fourth quarter, representing an 8.1% YoY growth.
A Rs. 10 dividend was issued by ICICI Bank.
A dividend of Rs 10 per share has also been recommended by the ICICI Bank Board of Directors. Dividends are payments made by businesses to their shareholders from their profits.
In the fourth quarter, gross non-performing assets were 2.16% of total assets.
The fourth quarter's gross non-performing (NPA) assets were 2.16%, down from 2.81% during the same period the previous year. On a year-over-year (YoY) basis, however, net NPA decreased from 0.48% to 0.42% during the March quarter.
In the March quarter, the bank's net interest margin decreased to 4.40%. On an annual basis, the bank's net interest margin decreased to 4.40%. In the March quarter of the previous year, it was 4.90%.
In a year, the shares of ICICI Bank yielded a return of 21.04%.
The day before the results, on Friday, ICICI Bank's shares had closed at Rs 1,110.75, down 0.27%. As a result, the bank's market valuation has also increased to Rs 7.78 thousand crore.
In the past month, the bank's shares have gained almost 1.60%. The last six months have seen a 20.09% gain in its share. It provided investors with returns of 21.04% over the previous year.
In 1955, ICICI Bank was founded.
Mumbai is home to the corporate headquarters of ICICI Bank Limited, an international bank and financial services provider in India. On the suggestion of the World Bank, the Indian government, and the Indian Industry Representative, it was founded in 1955. ICICI was the first bank in Asia other than Japan and the first Indian company to debut on the New York Stock Exchange in 1999. Sandeep Bakshi is the Chief Executive Officer, or CEO, of ICICI Bank.
