ICICI Bank Ltd. reported fourth-quarter standalone net revenue surged 30% year-on-year to ₹9,122 crore backed by wholesome growth in retail loans, an enchancment in asset high quality and a 40.2% bounce in net curiosity earnings (NII) to ₹17,667 crore.
“There was all round growth in loan portfolio and we are following a risk calibrated approach,” govt director Sandeep Batra instructed contributors on an earnings convention name.
Stating that mortgage portfolio of all of the segments together with housing grew through the quarter regardless of the rise in rates of interest, Mr. Batra stated the financial institution’s retail mortgage portfolio grew by 22.7% year-on-year and 5.4% sequentially, and comprised 54.7% of the entire mortgage portfolio as on March 31.
The Indian economic system has continued to stay resilient and monetary stability has been maintained whereas inflation has moderated, he added.
The lender’s net curiosity margin improved to 4.90% in the March quarter from 4.00% in the year-earlier interval.
Fee earnings grew by 10.6% to ₹4,830 crore in the quarter. Provisions (excluding provision for tax) elevated by 51.5% to ₹1,619 crore in Q4. Provisions included contingency provision of ₹1,600 crore made on a prudent foundation, Mr Batra stated.
The financial institution suffered a treasury lack of ₹40 crore in Q4 in contrast with a acquire of ₹129 crore in the year-earlier interval.
The enterprise banking portfolio grew by 34.9% and the SME enterprise, comprising debtors with a turnover of lower than ₹250 crore grew by 19.2%. The home company portfolio grew by 21.2%, he stated.
Total advances elevated by 18.7% through the quarter to ₹10,19,638 crore. Total period-end deposits elevated by 10.9% to ₹11,80,841 crore.
Bad loans shrink
The gross NPA ratio declined to 2.81% at March 31, 2023, from 3.07% as on December 31, 2022, Mr. Batra stated.
The net non-performing property declined by 25.9% to ₹5,155 crore. The net NPA ratio slid to 0.48%, from 0.76% at March 31, 2022.
He stated the net addition from gross NPAs, excluding write-offs and sale, was ₹14 crore in Q4, in contrast with ₹1,119 crore in the previous quarter.
The gross NPA additions in the final quarter had been ₹4,297 crore, in contrast with ₹5,723 crore in Q3.
The financial institution’s whole capital adequacy ratio at March 31 was 18.34% and Tier-1 capital adequacy was 17.60% in contrast with the minimal regulatory necessities of 11.70% and 9.70%, respectively.
The board has beneficial a dividend of ₹8 per share.
The fourth-quarter consolidated revenue after tax elevated by 27.6% to ₹9,853 crore.
Consolidated property grew by 11.7% ₹19,58,490 crore as on March 31.
The lender’s standalone revenue after tax for the monetary yr ended March 31, 2023, grew by 36.7% to ₹31,896 crore.
