ICICI Bank Q4 Results: Net profit rises 17% to ₹10,707 crore, NII up 8% YoY; dividend declared
ICICI Bank Q4 Results: ICICI Bank announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Saturday, April 27, reporting a rise of 17.4 per cent in standalone net profit at ₹10,707.5 crore, compared to ₹9,121.9 crore in the corresponding period last year. India's second-largest lender by market capitalisation (mcap) reported a growth of eight per cent in net interest income (NII)--the difference between interest earned and paid--to ₹19,092.8 crore, compared to ₹17,666.8 crore in the same period last year. Follow ICICI Bank Q4 Live Updates: Net profit rises 17% YoY, dividend declared The private-sector lender also declared a dividend of ₹10 per equity share of face value of ₹2 each.
The dividend on equity shares, will be paid on or after it is approved by the shareholders at the bank's annual general meeting (AGM). The board approved a fund raising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets. The bank's board also authorised buyback of debt securities within the limits.
The non-interest income, excluding the performance of the treasury, came in at ₹5,930 crore, 15.7 per cent higher than the year-ago period. The bank's provisions more than halved to ₹718 crore in the fourth quarter of FY24. The bank's core operating profit grew by 10.5 per cent year-on-year (YoY) to ₹15,320 crore in the March quarter from ₹13,866 crore in the year-ago period.
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