India’s second largest private lender ICICI Bank today reported a standalone net profit of Rs 10,707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period.
Company‘s board of directors have recommended a dividend of Rs 10 per share for FY2024.
The interest expended during the said quarter stood at Rs 18,855.56 crore which was up from Rs 13,354.34 – a YoY gain of 41%.
Bank’s board also approved fund raising via issuances of debt securities that will include non-convertible debentures (NCDs) in domestic markets upto an overall limit of Rs 25,000 crore. The Board has also authorised buyback of debt securities within the limits that the Board is authorised to approve under applicable law, the company filing said.Bank’s Capital Adequacy Ratio (CAR) for the reporting quarter stood at Rs 16.33% which is up sequentially from 14.61% in Q3FY24 and down YoY from 18.34% in Q4FY23.Gross NPAs were down on a YOY and QoQ basis. In the January-March quarter of FY24, GNPA was reported at Rs 27,961.68 down from Rs 28,774.63 crore in Q3FY24 and Rs 31.183.70 in Q4FY23.On the consolidated basis, (PAT) increased by 18.5% YoY to Rs 11,672 crore in Q4FY24 from Rs 9,853 crore in Q4FY23. Consolidated assets grew by 20.7% YoY to Rs 23,64,063 crore at March 31, 2024 from Rs 19,58,490 crore at March 31, 2023.
