ICICI Bank fourth-quarter profit at Rs 969 cr, drops on higher expenses

ICICI Bank on Monday reported a profit of Rs 969 crore in Q4FY19.

ICICI Bank Ltd on Monday posted a 5 per cent drop in profit at Rs 969 crore in the quarter ended March 31, dented by higher expenses.

The net profit was reported at Rs 1,020 crore in the corresponding quarter last year, when stricter RBI rules forced the country's third-biggest lender by assets to account for more bad loans.  

Gross NPA came in at 7.38 per cent vs 7.75 per cent QoQ.

In their earnings preview note, analysts at Motilal Oswal had said, "With a successive decline in the size of watch-list, controlled slippages from core portfolio and bottoming out of the non-performing loan (NPL) ratios over FY19, we expect the bank’s return profile to improve steadily."