1. ICICI Bank Q4 standalone net almost triples but still below estimates

ICICI Bank Q4 standalone net almost triples but still below estimates

Net non-performing assets (NPAs) at March 31, 2017, were Rs 25,451 crore compared to Rs 20,155 crore at the end of previous quarter. The Bank’s net non-performing asset ratio was 4.89% at March 31, 2017, compared to 3.96% at December 31, 2016.

By: | Updated: May 3, 2017 7:34 PM
ICICI Bank’s consolidated profit after tax was Rs 2,083 crore for the fiscal fourth quarter of 2016-17 (Q4FY17) and Rs 10,188 crore for FY2017.

ICICI Bank’s consolidated profit after tax was Rs 2,083 crore for the fiscal fourth quarter of 2016-17 (Q4FY17) and Rs 10,188 crore for FY2017. Standalone profit after tax for Q4FY17 increased 189% to Rs 2,025 crore for from Rs 702 crore in Q4FY16. Standalone profit after tax for FY2017 was Rs 9,801 crore.

Net interest income increased by 10% on a year-on-year basis to Rs 5,962 crore in Q4FY17 from Rs 5,404 crore in Q4FY16. Non-interest income was Rs 3,017 crore in Q4FY17 compared to Rs 2,978 crore in Q4FY16. The non-interest income in Q4FY16 included gains of Rs 2,131 crore on sale of the stake in insurance subsidiaries. Fee income increased by 11% on a year-on-year basis to Rs 2,446 crore in Q4FY17 from Rs 2,212 crore in Q4FY16.

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Net non-performing assets (NPAs) at March 31, 2017, were Rs 25,451 crore compared to Rs 20,155 crore at the end of previous quarter. The Bank’s net non-performing asset ratio was 4.89% at March 31, 2017, compared to 3.96% at December 31, 2016. Net loans to companies whose facilities have been restructured were Rs 4,265 crore as on March 31, 2017, compared to Rs 6,407 crore as on December 31, 2017. The additions to NPAs been gradually declining from Rs 8,249 crore in Q1FY17 to Rs 8,029 crore Q2FY17 and Rs 7,037 crore in Q3FY17. During Q4FY17, the NPAs have increased. Of the additions to NPAs during the quarter, Rs 5,378 crore was due to one account in the cement sector. This account was included in the drill down exposures to key sectors disclosed by the Bank. In Q4-2016, the Bank had on a prudent basis made a collective contingency and related reserve of Rs 3,600 crore.

Domestic advances grew 14% year-on-year; retail portfolio grew by 19% year-on-year and constituted 52% of the total portfolio as on March 31, 2017. Current and savings account (CASA) deposits grew 28% year-on-year; CASA ratio was 50.4% as on March 31, 2017. Net loans to companies whose facilities have been restructured were Rs 4,265 crore as on March 31, 2017, compared to Rs 6,407 crore as on December 31, 2017.

Total capital adequacy was 17.39% and Tier-1 capital adequacy was 14.36% on a standalone basis at March 31, 2017. The Board of Directors has recommended a dividend of Rs 2.50 per equity share of face value of Rs 2.00 each and an issue of bonus shares in the ratio of 1 equity share for every 10 equity shares.

 

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