Mumbai: ICiCI Bank Saturday announced it’s financial result for the quarter ended March 31, 2023.
Core operating profit (profit before provisions and tax, (profit before provisions excluding treasury income) grew by 36.4% year-on-year to ₹ 13,866 crore (US$ 1.7 billion) in the quarter ended March 31, 2023 (Q4-2023) . Core operating profit less provisions grew by 34.7% year-on-year to ₹ 12,247 crore (US$ 1.5 billion) in Q4-2023.
Profit after tax grew by 30.0% year-on-year to ₹ 9,122 crore (US$ 1.1 billion) in Q4-2023. Core operating profit grew by 28.1% year-on-year to ₹ 49,139 crore (US$ 6.0 billion) in the year ended March 31, 2023 (FY2023). Core operating profit less provisions grew by 43.0% year-on-year to ₹ 42,473 crore (US$ 5.2 billion) in FY2023. Profit after tax grew by 36.7% year-on-year to ₹ 31,896 crore (US$ 3.9 billion) in FY2023. Total deposits grew by 10.9% year-on-year to ₹ 1,180,841 crore (US$ 143.7
billion) at March 31, 2023. Average CASA ratio was 43.6% in Q4-2023. Domestic loan portfolio grew by 20.5% year-on-year.
Net NPA ratio declined to 0.48% at March 31, 2023 from 0.55% at December 31, 2022. Provision coverage ratio on non-performing assets was 82.8% at March 31, 2023. Total capital adequacy ratio was 18.34% and Tier-1 capital adequacy ratio was 17.60% on a standalone basis at March 31, 2023.
The Board of Directors of ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174, NYSE: IBN) at its meeting held at Mumbai today, approved the standalone and consolidated accounts of the Bank for the quarter ended March 31, 2023 (Q42023) and the year ended March 31, 2023 (FY2023). The statutory auditors have audited the standalone and consolidated financial statements and have issued an unmodified report on the standalone and consolidated financial statements for Q4-2023 and FY2023.