ICICI Bank Profit Jumps 260% To Rs 4,403 Crore In March Quarter

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ICICI Bank Profit Jumps 260% To Rs 4,403 Crore In March Quarter

ICICI Bank This fall: The financial institution’s whole deposits grew 21 per cent year-on-year to Rs 932,522 crore

ICICI Bank Limited reported a 260 per cent progress – a three-fold bounce in web revenue to Rs 4,402.62 crore for the January-March quarter within the monetary yr 2020-21, in comparison with Rs 1,221.36 crore within the year-ago interval. The nation’s main personal sector lender reported a progress of 17 per cent in web curiosity revenue to Rs 10,431 crore in the course of the quarter. ICICI Bank posted a web revenue of Rs 4,940 crore within the previous October-December quarter of fiscal 2020-21.

ICICI Bank This fall Results: Here’s All You Need To Know

  1. ICICI Bank’s core working revenue – the revenue earlier than provisions and taxes, grew 20 per cent year-on-year to Rs 8,565 crore within the fourth quarter of the monetary yr 2020-21, in comparison with Rs 7,148 crore within the year-ago interval. (Also Read: ICICI Bank Q3 Results: October-December Net Profit Jumps 19% To Rs 4,940 Crore )

  2. The personal sector financial institution’s web curiosity revenue (NII) – or the distinction between curiosity earned and curiosity paid, within the fourth quarter grew 17 per cent on yr to Rs 10,431 crore, in comparison with Rs 8,927 crore within the year-ago interval.

  3. The whole revenue stood at Rs 23,953 crore within the March quarter, in comparison with Rs 23,443 crore within the year-ago interval. The web curiosity margin stood at 3.84 per cent within the March quarter, in comparison with 3.67 per cent within the previous December quarter.

  4. The financial institution’s web non-performing asset or NPA ratio declined to 1.14 per cent at March 31, 2021, in comparison with 1.26 per cent on the proforma foundation at December 31, 2020, and 1.14 per cent at March 31, 2020. 

  5. ICICI Bank stated that it made further COVID-19 associated provisions of Rs 1,000 crore within the January-March quarter and held pandemic associated provisions of  Rs 7,475 crore at March 31, 2021.

  6. The financial institution’s whole deposits grew 21 per cent year-on-year to Rs 932,522 crore. The home loans grew 18 per cent, whereas retail loans grew 20 per cent year-on-year.

  7. The provisions, excluding provision for tax, stood at Rs 2,883 crore within the March quarter, in comparison with Rs 5,967 crore within the year-ago interval.

  8. During the January-March quarter, ICICI Bank utilised the contingency provision amounting to Rs 3,509 crore in direction of proforma NPAs as of December 31, 2020, because the loans have now been categorized, based on pointers by the Reserve Bank of India.

  9. ICICI Bank’s board has advisable a dividend of Rs 2 per share, consistent with relevant pointers, nonetheless, the declaration of dividend is topic to requisite approvals. The ebook closure dates shall be introduced at a later stage.

  10. On Friday, April 23, shares of ICICI Bank settled 1.57 per cent decrease at Rs 570.05 apiece on the BSE.

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