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.
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.
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Research Analyst: Bavadharini KS