ICICI Bank Q4 net profit up 44.5% at Rs 1452 cr
Country's second largest lender ICICI Bank has reported fourth quarter net profit of Rs 1,452 crore, a 44.5% growth as compared to Rs 1,005 crore in quarter ended March 2010.
Country's second largest lender ICICI Bank has reported fourth quarter net profit of Rs 1,452 crore, a 44.5% growth as compared to Rs 1,005 crore in quarter ended March 2010.
Net interest income for the January-March quarter was Rs 2,510 crore, which grew by 23.3% as compared to Rs 2,035 crore in same quarter the previous year.Net interest income was better-than-expectations of Rs 2,361 crore while bottomline was tad below estimates of Rs 1,476 crore.Net non-performing assets (NPAs) declined to 0.94% as against 1.87% on year-on-year basis. Net NPA was down by 37% at Rs 2,459 crore versus Rs 3,901 crore.The bank made provision of Rs 384 crore in the quarter ended March 2011, which was down by 61% as compared to Rs 990 crore in same quarter of 2010.Fee income increased 18% to Rs 1,791 crore from Rs 1,521 crore on year-on-year basis.Current and savings account (CASA) deposit ratio increased to 45.1% from 41.7% on year-on-year basis.Provision coverage ratio increased to 76% at March 31, 2011 from 59.5% at March 31, 2010 and 71.8% at December 31, 2010.Capital adequacy ratio stood at 19.54% and Tier-1 capital adequacy at 13.17%.As on March 31, 2011, the bank had 2,529 branches and 6,104 ATMs, the largest branch network among private sector banks in the country.Advances of the bank increased 19% to Rs 2,16,366 crore in the quarter ended March 31, 2011 from Rs 1,81,206 crore in same quarter the previous year.Savings deposits increased 26% year-on-year to Rs 66,869 crore from Rs 53,218 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
