ICICI Bank on Saturday reported a 30 per cent increase in standalone net profit at Rs 9,121.87 crore for the January to March quarter.
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Private bank ICICI has declared a final dividend of Rs 8 per equity share of Rs 2 each. Apart from this, the company has also announced its January to March quarter results and annual performance for the financial year 2023. In the meeting, the board recommended a dividend of Rs.8 only. Profit on Equity Shares will be paid on or after the approval of the shareholders in the ensuing Annual General Meeting of the Bank.
ICICI Bank on Saturday reported a 30 per cent increase in standalone net profit at Rs 9,121.87 crore for the January to March quarter. This is as against the net profit of Rs 7018.71 crore from the corresponding quarter of the previous financial year. Its net interest income (NII), which is the difference between interest earned and interest spent. ICICI Bank’s annual profit increased by 24% to Rs 17,666.8 crore from Rs 12604.6 crore.
The operational profit of the bank stood at Rs 15,206.19 crore as against Rs 31,306.02 crore during the year-ago quarter, a growth of 31.90%. The consolidated net profit of the bank during FY2023 reached Rs 9,122 crore, which was 30% higher than Rs 7018.71 crore in FY22.
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ICICI Bank said that its total deposits grew 10.9% year-on-year to Rs 1,180,841 crore during the quarter ended March 31, 2023, and the average CASA ratio stood at 43.6% in the January to March quarter-2023. The domestic loan portfolio grew by 20.5% year-on-year and the net NPA ratio declined to 0.48% during January to March quarter-2023 from 0.55% in October-December quarter-2022. Let us tell you that on Friday, ICICI Bank shares closed at Rs 884.20 on BSE, down 1.13 per cent.