ICICI Bank clocked a consolidated net profit of Rs 11,671.52 crore, up 18.4% year-on-year in Q4 of FY24 against Rs 9,852.70 crore in the same quarter a year ago.
India’s second-largest lender reported a consolidated total income of Rs 67,181.70 crore, an increase of almost 25% on year compared to Rs 53,922.75 crore posted in Q4 of FY23.
Its net interest income for the period rose by 8.1% on year to Rs 19,093 crore in the last quarter of financial year 2023-24 from Rs 17,667 crore in Q4 FY23.
For the quarter ending December of FY24, ICICI Bank’s net profit, standalone, saw a rise of 23.5% standing at Rs 10, 272 crore, compared to Rs 8,312 crore in the year-ago period.
In the previous quarter (Q3 FY24), ICICI Bank’s net interest income rose by 13.4% to Rs 18,678 crore year-over-year from Rs 16,465 crore in the same quarter last year. Addressing analysts after the results, Sandeep Batra, executive director, ICICI Bank emphasised on the bank’s keen initiatives to enhance profitability but expects “NIMs to be rangebound”.
The Board has recommended a dividend of Rs 10 per share.