Private sector ICICI Bank reported a standalone net profit of 59 per cent at Rs 7,019 crore in the fourth quarter of FY 2021-22. The bank gave this information to the stock market on Saturday. The bank had made a profit of Rs 4,403 crore in the same period of the previous financial year.
The Board of the Bank has recommended a dividend of Rs.5 per share in line with the applicable guidelines. Declaration of dividend is subject to requisite approvals. Record/Book closure dates will be announced soon.
Increase in total income: The bank said that its total income increased to Rs 27,412 crore during January-March 2022 from Rs 23,953 crore in the same period last year. He said interest income also increased by 21 per cent to Rs 12,605 crore from Rs 10,431 crore a year ago.
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Decrease in NPAs: The asset quality of the bank has also improved in the last quarter. The bank’s gross non-performing assets (NPAs) declined to 3.60 per cent of gross advances by March 2022. It was 4.96 per cent of gross advances a year ago. During this period, the net NPA of the bank also fell from 1.14 per cent to 0.76 per cent.