ICICI Bank declares final dividend of ₹8. Check details here
The private lender ICICI Bank has declared a final dividend of ₹8 per equity share of face value of ₹2 on Saturday. Apart from this, the company also announced its Q4 results for FY23 and the overall yearly performance.
“The Board at the above Meeting recommended a dividend of Rs. 8 /- (Rupees Eight only) per equity share of face value of Rs. 2/- each, subject to requisite approvals. The dividend on equity shares, will be paid/despatched on or after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank,” said the bank in its regulatory filing.
ICICI Bank on Saturday reported a rise of 30 per cent in standalone net profit of ₹9,121.87 crore for the quarter ended March 31 2023. This is against a net profit of ₹7018.71 crore from the corresponding quarter of the previous financial year.
Its net interest income (NII), which is the difference between interest earned and expended, rose 24% to ₹17,666.8 crore from ₹ ₹12.604.6 crore year-on-year (YoY).
The bank’s operating profit (Profit before provisions and contingencies) stood at ₹15,206.19 crore during the quarter under review, up by 31.90% YoY from ₹31,306.02 crore during the year-ago quarter.
The consolidated net profit of the bank reached ₹9,122 crore during Q4FY23, up by 30% from ₹7018.71 Cr in Q4FY22.
ICICI Bank said its total deposits grew by 10.9% year-on-year to ₹1,180,841 crore (US$ 143.7billion) during March 31, 2023 quarter and the average CASA ratio was 43.6% in Q4-2023. The domestic loan portfolio grew by 20.5% year-on-year and the net NPA ratio declined to 0.48% during Q4FY23 from 0.55% in Q3FY23.
ICICI Bank shares closed 1.13 per cent down at ₹884.20 on the BSE on Friday
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