ICICI Bank Board declares dividend of Rs 10 per share for FY24

Dividend would be subject to approval of the shareholder in the next annual general meeting.

The Board of ICICI Bank, the country's second-largest private sector lender, has declared a dividend of Rs 10 per share for fiscal 2024, the bank informed the stock exchanges on April 27.

This would be subject to shareholders's approval in the next annual general meeting, the bank stated.

The bank, on April 27, reported a net profit of Rs 10,707 crore for the January-March quarter of the financial year 2023-24, which marks a 17 percent jump as compared to Rs 9,122 crore clocked in the year-ago period.

The net profit is in line with the market estimates of Rs 10,331 crore.

The net interest income (NII) of Rs 19,093 crore, increased by 8 percent as compared to Rs 17,667 crore reported in the corresponding quarter of the previous fiscal. The NII is slightly higher as against the estimates of Rs 18,958 crore.

The bank's gross non-performing asset (NPA) stood at 2.16 percent, down from 2.81 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 0.42 percent compared to 0.48 percent last year.

The ICICI Bank stock ended at Rs 1,107.15 on the BSE on April 26, down 0.53 percent from the previous close.