ICICI Bank reports 18.5% growth in Q4 net profit at ₹11,672 crore

ICICI Bank reports 18.5% growth in Q4 net profit at ₹11,672 crore

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A bird flies past the facade of the ICICI bank head office in Mumbai.
| Photo Credit: REUTERS

Private sector lender ICICI Bank on April 27 said its March 2024 quarter consolidated net grew 18.5% to ₹11,672 crore.

It had reported a net profit of ₹9,853 crore in the year-ago period.

On a standalone basis, the second largest private sector lender showed a 17.4% growth in its profit after tax at ₹10,708 crore for the reporting quarter against ₹9,122 crore in the year-ago period.

The core net interest income increased 8.1% to ₹19,093 crore on a 16.8% growth in loans and a marginal compression in net interest margin to 4.40%.

The non-interest income, excluding the performance of the treasury, came at ₹5,930 crore, 15.7% higher than the year-ago period.

The provisions more than halved to ₹718 crore for the reporting quarter, as per the exchange filing by the lender.

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