Mumbai: ICICI Bank reported a 59.42% increase in its standalone net profit to Rs 7,018.71 crore in the fourth quarter last fiscal year (Q4FY22) from Rs 4,402.61 crore in the same quarter a year ago year.
Sequentially (compared to the previous quarter), net profit increased by 13.32% from Rs 6,193.81 crore.
Net interest income (NII), the difference between interest earned and interest spent, increased by 21% year on year to Rs 12,605 crore in January-March from Rs 10,431 crore a year ago.
For the previous financial year as a whole, ICICI Bank’s after-tax profit rose 44% year-on-year to Rs 23,339 crore.
As of March 31, the bank’s gross NPA ratio was 3.60% compared to 4.13% a quarter ago and 4.96% a year ago.
The net NPA ratio was 0.76% as of March 31 compared to 0.85% as of December 31 and 1.14% a year ago.
As of March 31, the bank’s Basel III capital ratio stood at 19.16% compared to 17.91% a quarter ago and 19.12% a year ago.
The coverage ratio of provisions on non-performing assets stood at 79.2% as of March 31, 2022.
As of March 31, ICICI Bank’s total advances registered a 17% year-on-year growth to reach Rs 859,020 crore. Sequentially, the
growth in domestic advances was 6%.
As of March 31, ICICI Bank’s total deposits increased by 14% year-on-year to Rs 1,064,572 crore. Sequential deposit growth was 5%.
Average deposits in current account savings accounts increased by 23% year-on-year from January to March.
The average CASA ratio was 45% in the fourth quarter of 2022, the bank said.
Total time deposits increased by 9% year-on-year to reach 546,135 crore rupees ($72.1 billion) as of March 31, 2022.
Profit before tax recorded a growth of 63% year-on-year to Rs 9,224 crore from Rs 5,657 crore in the same period a year ago.
The total capital adequacy ratio was 19.16% and the Tier 1 capital adequacy ratio was 18.35% on an individual basis as at March 31, 2022
The bank’s board has recommended a dividend of Rs 5 per share.