ICICI Bank spurts after declaring Q4 result

ICICI Bank jumped 8.24% to Rs 313.25 at 12:18 IST on BSE after the bank announced Q4 result after market hours yesterday, 7 May 2018.

Meanwhile, the S&P BSE Sensex was up 79.96 points, or 0.23% to 35,288.10.

On the BSE, 25.88 lakh shares were traded in the counter so far compared with average daily volumes of 5.67 lakh shares in the past two weeks. The stock had hit a high of Rs 314.50 and a low of Rs 300 so far during the day. The stock hit a record high of Rs 365.65 on 29 January 2018. The stock hit a 52-week low of Rs 256 on 24 October 2017.

ICICI Bank's net profit dropped 49.62% to Rs 1020 crore on 20.24% rise in total income to Rs 19942.97 crore in Q4 March 2018 over Q4 March 2017. The core operating profit (profit before provisions and tax, excluding treasury income) was Rs 4829 crore in Q4 March 2018 as compared to Rs 4609 crore in Q4 March 2017.

ICICI Bank's net interest income rose 1% to Rs 6022 crore in Q4 March 2018 over Q4 March 2017. The domestic net interest margin was 3.67% and the overall net interest margin was 3.24% in Q4 March 2018.

The bank's capital adequacy at 31 March 2018 as per Reserve Bank of India's guidelines on Basel III norms was 18.42% and Tier-1 capital adequacy was 15.92% compared to the regulatory requirements of 10.98% and 8.98% respectively.

Gross NPA additions declined from Rs 4976 crore in Q1 June 2017 to Rs 4674 crore in Q2 September 2017 and Rs 4380 crore in Q3 December 2017. During Q4 March 2018, the gross additions to NPA were Rs 15737 crore. This included Rs 9968 crore of loans which were under RBI schemes and classified as standard at 31 December 2017.

The provision coverage ratio on non-performing loans, including cumulative technical/prudential write-offs increased by 690 basis points from 53.6% at 31 March 2017 to 60.5% at 31 March 2018. The net NPA ratio was 4.77% at 31 March 2018 compared to 4.20% at 31 December 2017 and 4.89% at 31 March 2017.

ICICI Bank said that bank's board of directors has recommended a dividend of Rs 1.50 per share.

ICICI Bank is one of the leading private sector banks in India. The bank had a network of 4,867 branches and 14,367 ATMs at 31 March 2018.

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