ICICI Bank Q4 Results 2022

India’s leading private sector lender ICICI Bank posted its results for Q4 FY22 on April 23, 2022. 

The company reported a 57.9% YoY jump in its net profit to Rs 7,718 crore for the quarter under review. On a sequential basis, the net profit jumped 18% to Rs 7,718 from Rs 4,886 crore in the previous quarter.

In the quarter under review, the interest earned by ICICI Bank increased by 12.1% YoY to Rs 24,999 crore. The same increased by 2.8% QoQ from Rs 24,314. The operating profit of ICICI Bank increased by 16.6% YoY to Rs 11,528 crore from Rs 9,879 crore in the year-ago period. However, on a sequential basis, the operating profit remained largely flat.

More about the ICICI Bank results

During the March 2022 quarter, ICICI Bank’s net NPA declined by 14% YoY and 5% QoQ. The gross NPA additions were Rs 4,204 crore in the quarter under review compared to Rs 4,018 crore in Q3 FY22

The Bank continues to carry Covid-19 related provision of Rs 6,425 crore as contingency provisions on March 31, 2022. In April 2022, the Bank made an additional contingency provision of Rs 1,025 crore on a prudent basis.

ICICI Bank has announced a dividend payment of Rs 5 per share.

ICICI Bank Q4 results 2022 – Hits

• Net profit up 57.9% YoY, 18% QoQ to Rs 7,718 crore for the quarter under review
• Interest earned up 12.1% YoY, 2.8% QoQ to Rs 22,299 crore for the quarter under review
• Total deposits grew by 14% YoY and 5% QoQ to Rs 10,64,572 crore in Q4 FY22
• The average CASA ratio was 45% in Q4 FY22
• The domestic loan portfolio grew by 17% YoY
• Capital Adequacy Ratio (CAR) reported at 19.16%
• Net Interest Income up at Rs 12,695 crore in the quarter under review from Rs 10,431 crore in the year-ago period
• Net Interest Margin came in at 4% from 3.84% in the year-ago period and 3.96% in the previous quarter
• Gross NPA ratio down to 3.60% from 4.13% in the previous quarter and 4.96% in the year ago period

Segment-wise revenue

• Retail Banking: Revenue up by 12.5% y-o-y to Rs 22,283 crore from Rs 19,796 crore in the year-ago period
• Wholesale Banking: Revenue up by 14.7% y-o-y to Rs 10,487 crore from Rs 9,140 crore in the year-ago period
• Treasury: Revenue up by 13.1% y-o-y to Rs 17,443 crore from Rs 15,413 crore in the year-ago period
• Other Banking: Revenue down by 9.4% y-o-y to Rs 651 crore from Rs 719 crore in the year-ago period
• Life Insurance: Revenue down by 9% y-o-y to Rs 13,340 crore from Rs 14,674 same period last year
• Others: Revenue up by 15.9% y-o-y to Rs 2,222 crore.

Other things to know about ICICI Bank

• ICICI Bank’s P/E ratio is at 38.97 against the industry average of 25.42. The company’s P/B ratio is at 3.19 against the industry average of 2.22.
• ICICI’s dividend yield is at 0.26% against the industry average of 0.52%.

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Research Analyst: Bavadharini KS