Aided by higher interest income and other income growth, India's largest private sector lender ICICI Bank on Friday reported a forecast beating 31% year-on-year jump in its fourth quarter (Jan-March) net profit at Rs 1,902 crore.
Net interest income (NII) or the difference between interest earned and paid out rose 24% to Rs 3,105 crore. Loan book expanded by 17% y-o-y to Rs 2.54 lakh crore. However, it was a muted growth at just 3% during the Jan-March period, the peak of so-called busy season (Oct-March).
The net interest margin (NIM) rose to 3.01% from 2.70% in the previous quarter. Other income climbed 17% to Rs 2,228 crore.
During the quarter, the bank's net non-performing (NPA) ratio improved to 0.62% compared with 0.94% in Q3, FY12. Gross NPA ratio too fell from 1.11% to 0.73%.
Moreover, overall asset quality has improved during the 12 month period. Consequently, provisions and contingencies dropped to 1,583 crore compared with 2,287 crore. Interestingly, the same went up to Rs 469 crore as against Rs 341 crore in Q3 despite a sequential fall in NPAs.
The bank has a strong capital adequacy ratio of 18.52%, way above the Reserve Bank of India's mandated 9% mark. This means, the lender is sitting on excess unused capital. However, the bank did not give any specific direction for its growth plans.
Meanwhile, the bank's restructured loan book stood at Rs 4,256 crore in FY12 as against Rs 1970 crore in FY11. The bulk of the restructuring, according to the MD, took place in Q3 and Q4. The lender does not see any more threat from its restructured assets in FY13.
For the full fiscal year, net profit shot up 26% y-o-y to Rs 6,465 crore while the consolidated net profit increased by 25% to 7,643. The bank has declared a dividend of Rs 16.50 per share.
Net interest income (NII) or the difference between interest earned and paid out rose 24% to Rs 3,105 crore. Loan book expanded by 17% y-o-y to Rs 2.54 lakh crore. However, it was a muted growth at just 3% during the Jan-March period, the peak of so-called busy season (Oct-March).
The net interest margin (NIM) rose to 3.01% from 2.70% in the previous quarter. Other income climbed 17% to Rs 2,228 crore.
During the quarter, the bank's net non-performing (NPA) ratio improved to 0.62% compared with 0.94% in Q3, FY12. Gross NPA ratio too fell from 1.11% to 0.73%.
Moreover, overall asset quality has improved during the 12 month period. Consequently, provisions and contingencies dropped to 1,583 crore compared with 2,287 crore. Interestingly, the same went up to Rs 469 crore as against Rs 341 crore in Q3 despite a sequential fall in NPAs.
The bank has a strong capital adequacy ratio of 18.52%, way above the Reserve Bank of India's mandated 9% mark. This means, the lender is sitting on excess unused capital. However, the bank did not give any specific direction for its growth plans.
Meanwhile, the bank's restructured loan book stood at Rs 4,256 crore in FY12 as against Rs 1970 crore in FY11. The bulk of the restructuring, according to the MD, took place in Q3 and Q4. The lender does not see any more threat from its restructured assets in FY13.
For the full fiscal year, net profit shot up 26% y-o-y to Rs 6,465 crore while the consolidated net profit increased by 25% to 7,643. The bank has declared a dividend of Rs 16.50 per share.
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