ICICI Bank Q4FY23 Results: Net Profit Soars 30% YoY To Rs 9,122 Cr
India’s second-largest private bank, ICICI Bank, on Saturday, reported a nearly 30 per cent year-on-year (YoY) jump in net profit at Rs 9,121.9 crore for the quarter that ended 31 March, 2023.
The profit in the same quarter last year had come in at Rs 7,018.71 crore.
The bank’s net interest income (NII) rose 24 per cent to Rs 17,666.8 crore compared to Rs 12,604.6 crore in the same period last year.
The bank has announced a final dividend of Rs 8 per equity share.
The net interest margin was 4.90 per cent in Q4 FY23 compared to 4.00 per cent in Q4 FY22 and 4.65 per cent in Q3 FY23.
Non-interest income, excluding treasury income, increased by 11.3 per cent YoY to Rs 5,127 crore in Q4 FY23 from Rs 4,608 crore in Q4 FY22.
Total period-end deposits increased by 10.9 per cent YoY and 5.2 per cent sequentially to Rs 1,180,841 crore at 31 March, 2023.
Provisions increased by 51.5 per cent YoY to Rs 1,619 crore in Q4FY23 from Rs 1,069 crore in Q4FY22.
The gross NPA ratio declined to 2.81 per cent at 31 March, 2023 from 3.07 per cent at 31 March, 2022.
The net non-performing assets declined by 25.9 per cent year-on-year and 8.8 per cent sequentially to Rs 5,155 crore at 31 March, 2023.
