ICICI Bank Q4 profit falls 5% on year to Rs 969 crore; key figures in nutshell

By: |
Updated: May 06, 2019 5:14 PM

ICICI Bank reported a fall in profit at Rs 969 crore in QFY19 over Rs 1,020 crore in the corresponding quarter last year.

ICICI Bank launches ‘insta auto loan’ for pre-approved customersThe total expenses jumped 18.1 percent to Rs 1,468 crore, the bank said in a regulatory filing.

ICICI Bank on Monday posted lower-than-expected financial results for the quarter ending March 31 on account of higher provisioning, the private sector lender said in a regulatory filing. Provisioning of Rs 5,451 crore was made in the fourth quarter as against Rs 4,244 crore in the last quarter. The lender reported 5 per cent fall in profit at Rs 969 crore in QFY19 over Rs 1,020 crore in the corresponding quarter last year.

Analysts in an ETNow poll had projected a profit of Rs 2,240 crore.

Q4 net interest income (NII) was recorded at Rs 7620.1 crore against Rs 6,022 crore in the same period of the last year, ICICI Bank said in an exchange filing.

Also read: Airtel Infinity postpaid plans see big makeover as company eyes higher ARPUs

The gross NPA was at 6.7 per cent in the fourth quarter as against 7.75 per cent in the previous quarter. The net NPA was down 2.06 per cent as against 2.58 per cent in the last quarter.The net provisions increased to Rs 5,450 crore from Rs 4,244 crore in Q3.

The gross additions to NPA were Rs 3,547 crore in Q4 compared to Rs 2,091 crroe in the last quarter. The gross NPA additions in the March quarter include an account in sugar sector where payment obligations are being met, which has been classified as NPA.

In the given quarter, the CASA ratio stands at 49.6 per cent. The slippages were posted at Rs 3,547 crore by the bank in the quarter ending March.

ICICI Bank said that it has classified exposure to IL&FS of Rs 276 crore as non performing assets (NPA). The fund-based outstanding to IL&FS at Rs 276 crore holds a provision of Rs 146 crore and non fund-based outstanding of Rs 545 crore holds a provision of Rs 468 crore, the bank said in a regulatory filing.

The shares of ICICI Bank ended the day at Rs 401.40, down 0.45 points, or 0.11 per cent on BSE today.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1All PSBs, REC to buy stakes in bad bank; Indian Banks’ Association files application for incorporation of NARCL
2Maharashtra State Cooperative Bank reports Rs 369-crore net in FY21
3HDFC Bank CEO Sashidhar Jagdishan identifies 5 key businesses for future growth