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Business EconomyPosted at: Apr 27 2024 9:11PM


ICICI Bank profit in Q4 jumps 17 pc to Rs 10,707 crore

New Delhi, April 27 (UNI) Private lender ICICI Bank on Saturday reported 17.38% year-on-year jump in standalone net profit at Rs 10,707.53 crore for January-March quarter (Q4) of the financial year 2023-24.
The bank's net interest income (NII) during the March quarter of FY24 rose 8% year-on-year to Rs 19,093 crore as compared to Rs 17,667 crore in the corresponding period a year ago.
"The net interest margin was 4.40% in Q4-2024 (Q4FY24) compared to 4.43% in Q3-2024 (Q3FY24) and 4.90% in Q4-2023 (Q4FY23)," ICICI Bank said in a media release.
The gross NPA (non-performing asset) ratio of the bank declined to 2.16% at March 31, 2024 from 2.30% at December 31, 2023. The net NPA ratio was 0.42% at March 31, 2024 compared to 0.44% at December 31, 2023 and 0.48% at March 31, 2023.
The board of ICICI Bank has recommended a dividend of Rs 10 per share for financial year 2023-24. The declaration and payment of dividend is subject to requisite approvals.
With the addition of 623 branches in FY24, the ICICI Bank had a network of 6,523 branches and 17,190 ATMs and cash recycling machines at March 31, 2024.
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