Mumbai, 19 April (IANS). The private sector country’s second largest lender ICICI Bank on Saturday announced strong financial results for the fourth quarter of FY 2024-25. Its net profit has increased by 18 percent to Rs 12,630 crore on an annual basis.
The bank on Saturday told the stock market that its net income (NII) received from interest also rose 11 percent to Rs 21,193 crore during the quarter.
Throughout the financial year, ICICI Bank recorded an increase of 15.5 percent in tax benefits (PAT) and it was Rs 47,227 crore.
Along with its income, the bank has also announced a dividend of Rs 11 per share, which is subject to approval in its upcoming annual general meeting. The marked value of each share of the bank is two rupees.
ICICI Bank also recorded an improvement in asset quality. Its gross non-performing assets (NPA) ratio came to 1.67 percent by 31 March this year, compared to 1.96 percent at the end of the previous quarter and 2.16 percent a year ago.
Similarly, the net NPA ratio came to 0.39 percent, while it was 0.42 percent in the previous quarter and the same period last year.
Completely, the NPA came to Rs 24,166.18 crore, while in the last quarter it was Rs 27,745.33 crore and Rs 27,961.68 crore a year ago.
According to the bank’s filing, during the quarter, he waived loans of Rs 2,118 crore and sold loans worth Rs 2,786 crore.
The provision increased to Rs 891 crore in the fourth quarter of FY 2025 except tax, compared to Rs 718 crore a year ago and Rs 1,227 crore in the third quarter.
The provision coverage ratio of the bank for NPAs at the end of March 2025 was 76.2 percent.
The total deposits of ICICI Bank increased by 14 percent to Rs 16.11 lakh crore till 31 March. The deposits increased by 5.9 percent on a quarterly basis.
During the January-March period, the average deposits of the bank increased by 11.4 percent on an annual basis and 1.9 percent from the previous quarter to Rs 14.87 lakh crore.
The average current account deposit increased by 9.6 percent on an annual basis, while the average savings account deposits increased by 10.1 percent.
Prior to the fourth quarter results, ICICI Bank’s stock closed at Rs 1,407 on the National Stock Exchange (NSE) on Thursday at Rs 1,407.
-IANS
SKT/Ekde
