ICICI Bank Q4: Profit increased by 17 percent to Rs 10,707 crore, dividend declared – ..

ICICI Bank Q4 Results: ICICI Bank has declared its March quarter results. Both the bank’s profit and net interest income have been better than expected. According to the information given by the bank, the profit has increased by 17 percent compared to last year. The net interest income of the bank has increased by 8 percent compared to last year. The increase was about 4 percent more than the CNBC TV 18 poll. NII has also been higher than expected, although the difference has been a little more than half a percent. The bank’s asset quality has further strengthened on a quarter-on-quarter basis.

In the information given to the stock market, the bank said that its profit was Rs 10,707.5 crore, which is 17.4 percent more than the profit of Rs 9,121.9 crore recorded in the same quarter last year. The bank’s profit was 3.7 percent more than the estimate given in the CNBC TV 18 poll. The poll has estimated a profit of Rs 10,323.3 crore.

Whereas the net interest income of the bank has increased by 8.1 percent to Rs 19,092.8 crore as compared to last year. The bank’s NII stood at Rs 17,666.8 crore in the same quarter last year. This figure is more than the market. The survey had predicted an NII of Rs 18,982.3 crore.

Asset quality remains strong

The asset quality of the bank has strengthened compared to the December quarter. On a quarter-on-quarter basis, the bank’s net NPA ratio fell from 0.44 percent to 0.42 percent. Whereas gross NPA has reduced from 2.3 percent to 2.16 percent. Talking about NPA figures, Net NPA is stable at the level of 5378. Whereas gross NPA has reduced from Rs 28,774.6 crore to Rs 27,961 crore.