ICICI Bank shares in focus after private lender posts strong Q4 results

ICICI Bank share price NSE, ICICI Bank Q4 results 2023: Shares of ICICI Bank will remain in focus after the private lender posted strong Q4 results. India’s second-largest private lender reported a rises of 30 per cent year-on-year YoY in profit to Rs 9,121.8 crore.

ICICI Bank share price NSE, ICICI Bank Q4 results 2023: Shares of ICICI Bank will remain in focus after the private lender posted strong Q4 results. Image: Reuters

ICICI Bank share price NSE, ICICI Bank Q4 results 2023: Shares of ICICI Bank Ltd, NSE: ICICIBANK gained nearly 1.5 per cent in early morning deals after the private lender posted strong Q4 results. The counter opened at Rs 905 on NSE. At 9:20 AM, the counter was up by 1.6 per cent or Rs 14.3 at Rs 900.

India’s second-largest private lender reported a rises of 30 per cent year-on-year YoY in profit to Rs 9,121.8 crore in the quarter ended on March 31, 2023, as compared to Rs 7018.71 crore in the same period of a year ago quarter, according to regulatory filing of ICICI Bank.

ICICI Bank dividend 2023

ICICI Bank’s board has recommended a dividend of Rs 8 per equity share of the face value of Rs 2 each.

The dividend on equity shares, will be paid/despatched on or after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the Bank.

ICICI Bank Q4 results 2023

ICICI Bank Q4 NII

The banking heavyweight’s net interest income (NII) grew by 40 per cent to Rs 17,666.8 crore in the March quarter of the previous fiscal as compared to Rs 12,604.6 crore in the corresponding quarter of FY22.

ICICI Bank Q4 NIM

The net interest margin (NIM) of ICICI Bank was at 4.9 per cent in the March quarter as compared to 4.65 per cent in the December quarter of the previous fiscal, while it was at 4 per cent in the corresponding quarter of the fiscal year 2021-22.

ICICI Bank Q4 Asset Quality

ICICI Bank’s asset quality improved during the March quarter as expected, as its gross non-performing assets (NPA) ratio declined to 2.81 per cent from 3.07 per cent sequentially, while its Net NPA ratio declined to 0.48 per cent from 0.55 per cent quarter-on-quarter (QoQ).