ICICI Bank net falls steeply

Private sector ICICI Bank on Friday said it closed last fiscal with a lower net profit as compared to the previous fiscal.

In a regulatory filing with BSE, the bank said it has posted a net profit of Rs.9,726.29 crore for the year ended March 31, 2016 as compared to Rs.11,175.35 crore for the year ended March 31, 2015.

During the last quarter, the bank has provided Rs.3,600 crore towards exceptional items. This is in addition to Rs.8,067 crore provided under the head Provisions and other Contigencies up from Rs.3,899 crore provided during the previous fiscal.

The bank's gross non-performing assets (net of write off) stood at Rs.26,221 crore as on March 31, 2016 as against Rs.15,094 crore as on March 31, 2015.

The net NPA stood at Rs.12,963 crore as on March 31, 2016 as against Rs.6,255 crore as on March 31, 2015.

Total income has increased from Rs. 61,267.27 crore for the year ended March 31, 2015 to Rs. 68,062.48 crore for the year ended March 31, 2016.

The bank board has recommended a dividend of Rs.5 per equity share with a face value of Rs.2.

The board also decided to seek the shareholders consent to raise upto Rs.25,000 crore through non-convertible debentures or bonds on a private placement basis.

--IANS

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