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BusinessICICI Bank Reports 17.4% Increase in Profit, Plans Rs 10 Dividend

ICICI Bank Reports 17.4% Increase in Profit, Plans Rs 10 Dividend


The bank had reported a net profit of Rs 9,853 crore in the year-ago period.

Aided by strong loan growth, ICICI Bank, the second largest private sector lender, has reported a 17.4 per cent growth in its standalone profit after tax (PAT) at Rs 10,707.53 crore for the March quarter (Q4) of  2024 against Rs 9,121.87 crore in the same period of last year. The board has proposed a dividend of Rs 10 per share for the year.

Total income of the bank rose to Rs 43,597 crore for Q4 as against Rs 42,791.64  crore a year ago.  The core net interest income (NII) increased 8.1 per cent to Rs 19,093 crore on a 16.8 per cent growth in loans and a marginal compression in net interest margin (NIM) to 4.40 per cent. The bank's fourth quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore from Rs 9,853 crore in the year-ago period.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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