{"id":1244974,"date":"2023-04-25T09:13:07","date_gmt":"2023-04-25T03:43:07","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244974"},"modified":"2023-04-25T09:13:40","modified_gmt":"2023-04-25T03:43:40","slug":"icici-bank-earned-net-profit-of-rs-101-crore-day-in-last-90-days-profits-up-by-30-yoy-rs-8-share-dividend-announced","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/icici-bank-earned-net-profit-of-rs-101-crore-day-in-last-90-days-profits-up-by-30-yoy-rs-8-share-dividend-announced\/","title":{"rendered":"ICICI Bank Earned Net Profit Of Rs 101 Crore\/Day In Last 90 Days: Profits Up By 30% YoY, Rs 8\/Share Dividend Announced"},"content":{"rendered":"\n

On April 22, ICICI Bank reported<\/a> a standalone net profit of Rs 9,121.87 crore for the quarter ended March 31 2023.<\/p>\n\n\n\n

\"ICICI<\/figure>\n\n\n\n

It is up by 30% year-on-year (YoY) from the corresponding quarter of the previous financial year of Rs 7018.71 crore.<\/p>\n\n\n\n

ICICI Bank Reporting Profits Above Street\u2019s Estimates<\/strong><\/p>\n\n\n\n

Not only that the PAT reported by the company was above Street\u2019s estimates.  <\/p>\n\n\n\n

The net profit seems to be rising by 28% year-on-year (YoY) to around Rs 9,000 crore, as per the average of estimates by 7 brokerages. <\/p>\n\n\n\n

Coming to Net Interest Income, it was expected at Rs 17,500 crore for the reporting quarter, up 39% YoY. <\/p>\n\n\n\n

Further, the media poll estimated Gross NPAs at 3%, down from 3.07% reported in Q3FY23. <\/p>\n\n\n\n

The Friday NSE session witnessed ICICI Bank shares reaching at Rs 887.60 level which were down by Rs 6.80 or 0.76% from the Thursday closing price.<\/p>\n\n\n\n

Besides this the second largest private lender announced a final dividend of Rs 8 per equity share in its filing to the exchanges.<\/p>\n\n\n\n

The total standalone income for the reporting quarter was up by nearly 32% YoY at 36,108.88 crore which was at Rs 27,412.32 crore in Q4FY22. <\/p>\n\n\n\n

For the year ended March 31, 2023, Core operating profit grew 28.1% YoY to Rs 49,139 crore. <\/p>\n\n\n\n

When it comes to Core operating profit less provisions grew 43.0% YoY to Rs 42,473 crore in FY2023.<\/p>\n\n\n\n

For the same quarter, PAT grew 36.7% YoY to Rs 31,896 crore. <\/p>\n\n\n\n

Similarly, the Total deposits grew 10.9% year-on-year to Rs 1,180,841 crore ($ 143.7 billion) at the end of March 31. <\/p>\n\n\n\n

During, Q4-2023 Average CASA ratio was 43.6%.<\/p>\n\n\n\n

When it comes to Domestic loans, its portfolio grew 20.5% year-on-year. <\/p>\n\n\n\n

Decline In NPA<\/strong><\/p>\n\n\n\n

The Net NPA ratio declined to 0.48% for March 31, 2023, from 0.55% at December 31, 2022, while the Provision coverage ratio on non-performing assets was 82.8% at March 31, 2023.<\/p>\n\n\n\n

By the end of March 31, 2023, the total capital adequacy ratio was 18.34% and Tier-1 capital adequacy ratio was 17.60% on a standalone basis.<\/p>\n\n\n\n

For Q4-2023, Net interest income (NII) increased by 40.2% year-on-year to Rs 17,667 crore (US$ 2.2 billion) from Rs 12,605 crore (US$ 1.5 billion) in Q4-2022.<\/p>\n\n\n\n

The bank’s net interest margin was 4.90% in Q4-2023 compared to 4.00% in Q4-2022 and 4.65% in Q3-2023.<\/p>\n\n\n\n

In case of Non-interest income, excluding treasury income, increased by 11.3% year-on year to Rs 5,127 crore (US$ 624 million) in Q4-2023 from Rs 4,608 <\/p>\n\n\n\n

crore (US$ 561 million) in Q4-2022.<\/p>\n\n\n\n

During Q4-2023, Fee income grew by 10.6% year-on-year to Rs 4,830 crore (US$ 588 million) from Rs 4,366 crore (US$ 531 million) in Q4-2022. <\/p>\n\n\n\n

Fees from retail, rural, business banking and SME customers constituted about 80.0% of total fees for the Q4-2023.  <\/p>\n","protected":false},"excerpt":{"rendered":"

On April 22, ICICI Bank reported a standalone net profit of Rs 9,121.87 crore for the quarter ended March 31 2023. It is up by 30% year-on-year (YoY) from the corresponding quarter of the previous financial year of Rs 7018.71 crore. ICICI Bank Reporting Profits Above Street\u2019s Estimates Not only that the PAT reported by […]<\/p>\n","protected":false},"author":27,"featured_media":1244987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[610],"class_list":["post-1244974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-icici-bank"],"acf":[],"yoast_head":"\nICICI Bank Earned Net Profit Of Rs 101 Crore\/Day In Last 90 Days: Profits Up By 30% YoY, Rs 8\/Share Dividend Announced - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/icici-bank-earned-net-profit-of-rs-101-crore-day-in-last-90-days-profits-up-by-30-yoy-rs-8-share-dividend-announced\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICICI Bank Earned Net Profit Of Rs 101 Crore\/Day In Last 90 Days: Profits Up By 30% YoY, Rs 8\/Share Dividend Announced - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"On April 22, ICICI Bank reported a standalone net profit of Rs 9,121.87 crore for the quarter ended March 31 2023. 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