Private lender ICICI Bank on April 22 announced its results for the quarter ending March 2023. The bank reported a 30 percent growth in its profit after tax (PAT) of Rs 9,122 crore, up from Rs 7,018 crore last year.
Here are key highlights from the bank’s earnings report card for the quarter ending March 2023:
PAT growth
ICICI Bank recorded a PAT of Rs 9,122 crore from Rs 7,018 crore in the corresponding quarter last year.
On a yearly basis, the bank in 2022-23 had a net profit of Rs 31,896 crore from Rs 23,339 crore in 2021-22.
The net interest income (NII) increased by 40.2 percent year-on-year to Rs 17,667 crore in Q4-2023 from Rs 12,605 crore last year.
The net interest margin (NIM) was 4.90 percent in Q4-2023 compared to 4.00 percent in Q4-2022.
Deposit growth
The bank’s deposits as of March 2023 stood at Rs 11.8 lakh crore from Rs 10.6 lakh crore, a YoY growth of 10.9 percent.
The lender’s average current and savings account (CASA) ratio was 43.6 percent in the March 2023 quarter.
Asset quality
ICICI Bank's gross NPA ratio declined to 2.81 percent for the fourth quarter of the fiscal year 2022-23, from 3.60 percent last year.
The net NPA ratio declined to 0.48 percent from 0.76 percent last year.
Segment credit growth
The lender’s retail loan portfolio grew by 22.7 percent YoY and comprised 54.7 percent of the total loan portfolio at March 31, 2023.
The business banking portfolio grew by 34.9 percent YoY on March 31, 2023, while small medium enterprises (SME) business grew by 19.2 percent YoY.
ICICI Bank's rural portfolio grew by 13.8 percent YoY and 5.5 percent sequentially at March 31, 2023.
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