ICICI Bank fell 2.64% to Rs 1,264.80 at 13:57 IST on BSE on profit booking after the bank announced Q4 March 2014 results during trading hours today, 25 April 2014.
Meanwhile, the BSE Sensex was down 183.53 points, or 0.80%, to 22,693.01.
On BSE, so far 2.98 lakh shares were traded in the counter, compared with an average volume of 2.66 lakh shares in the past one quarter.
The stock hit a high of Rs 1,317.85 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,264 so far during the day. The stock hit a 52-week low of Rs 758.80 on 28 August 2013.
Shares of ICICI Bank jumped 6.65% in the preceding five trading sessions to Rs 1,299.05 on 23 April 2014, from a recent low of Rs 1218.05 on 15 April 2014.
The stock had outperformed the market over the past one month till 23 April 2014, rising 8.44% compared with the Sensex's 5.15% rise. The scrip had also outperformed the market in past one quarter, rising 20.38% as against Sensex's 7.03% rise.
The large-cap company has an equity capital of Rs 1155.03 crore. Face value per share is Rs 10.
ICICI Bank's net interest income increased 15% to Rs 4357 crore in Q4 March 2014 from Rs 3803 crore in Q4 March 2013. Non-interest income increased by 35% to Rs 2976 crore in Q4 March 2014 from Rs 2208 crore in Q4 March 2013. Non-interest income in Q4 March 2014 included Rs 222 crore of exchange rate gains on repatriation of retained earnings from overseas branches.
ICICI Bank's net profit rose 17.84% to Rs 9810.48 crore on 12.77% increase in total income to Rs 54606.02 crore in the year ended March 2014 (FY2014) over the year ended March 2013 (FY2013).
Net interest income increased 19% to Rs 16475 crore in FY2014 from Rs 13866 crore in FY2013. Net interest margin increased by 22 basis points from 3.11% in FY2013 to 3.33% in FY2014. Non-interest income increased by 25% to Rs 10428 crore in FY2014 from Rs 8346 crore in FY2013.
On a consolidated basis, ICICI Bank's net profit rose 9.32% to Rs 2724.26 crore on 6.98% increase in total income to Rs 21652.96 crore in Q4 March 2014 over Q4 March 2013.
On a consolidated basis, net profit rose 14.97% to Rs 11041.37 crore on 7.22% increase in total income to Rs 79563.85 crore in FY2014 over FY2013.
Net non-performing assets at 31 March 2014 were Rs 3301 crore compared to Rs 3121 crore at 31 December 2013 and Rs 2234 crore at 31 March 2013. The net non-performing asset ratio was 0.82% at 31 March 2014 compared to 0.81% at 31 December 2013 and 0.64% at 31 March 2013.
The bank's provision coverage ratio, computed in accordance with the RBI guidelines, was 68.6% at 31 March 2014 after write-offs of Rs 2156 crore during the year. Net loans to companies whose facilities have been restructured were Rs 10558 crore at 31 March 2014 compared to Rs 8602 crore at 31 December 2013 and Rs 5315 crore at 31 March 2013.
The bank's capital adequacy at 31 March 2014 as per Reserve Bank of India's guidelines on Basel III norms was 17.70% and Tier-1 capital adequacy was 12.78%, well above regulatory requirements.
Total advances increased by 17% year-on-year to Rs 338703 crore at 31 March 2014 from Rs 290249 crore at 31 March 2013. The bank has continued to see healthy growth in its retail disbursements resulting in a year-on-year growth of 23% in the total retail portfolio at 31 March 2014.
During Q4 March 2014, savings account deposits increased by Rs 3408 crore and current account deposits increased by Rs 1804 crore. For FY2014, savings account deposits increased by Rs 13482 crore and current account deposits increased by Rs 6319 crore. At 31 March 2014, savings account deposits were Rs 99133 crore and current account deposits were Rs 43245 crore. The bank's CASA ratio was 42.9% at 31 March 2014 as compared to 43.3% as 31 December 2013 and 41.9% at 31 March 2013. The average CASA ratio for Q4 March 2014 was 39.1% and for FY2014 was 39.4% compared to 38.0% for FY2013. Total deposits increased by 13% year-on-year to Rs 331914 crore at 31 March 2014.
ICICI Bank said it has continued with its strategy of pursuing profitable growth. The bank continued to grow its retail franchise and has seen healthy growth in retail assets and deposits during the year. The bank continued to strengthen its deposit franchise with healthy mobilization of current and savings account (CASA) deposits during the year, leveraging its increased branch network and technology initiatives. During the year, the bank added 653 branches and 834 ATMs to its network. At 31 March 2014, the bank had 3753 branches, the largest branch network among private sector banks in the country. The bank's ATM network increased to 11315 ATMs at 31 March 2014 as compared to 10481 at 31 March 2013.
ICICI Bank is a leading private sector bank in India.
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