ICICI Bank Q4 net profit rises 10.2% to Rs 2,922 crore
New Delhi: Country’s largest private sector lender ICICI Bank today registered 10.2 per cent rise in its net profit at Rs 2,922 crore for the fourth quarter ended March 2015 on the back of higher interest income.
The bank’s net profit in the corresponding quarter of the previous fiscal stood at Rs 2,652.01 crore, ICICI Bank said in a filing to the BSE.
“Standalone profit after tax (or net profit) increased by 10 per cent to Rs 2,922 crore (USD 468 million) for the quarter ended March 31, 2015 from Rs 2,652 crore (USD 424 million) for the quarter ended March 31, 2014.”
The bank’s net interest income increased 17 per cent to Rs 5,079 crore (USD 813 million) in fourth quarter of 2015 from Rs 2,976 crore (USD 476 million) in the corresponding quarter of 2014.
The net interest margin (NIM) in the fourth quarter stood at 3.57 per cent.
Total income increased from Rs 14,465.34 crore for the quarter ended March 31, 2014 to Rs 16,234.73 crore for the quarter ended March 31, 2015, it said.
On the asset quality front, the gross non-performing assets (NPA) or bad loans rose to 3.78 per cent of the gross advances during the last quarter, from 3.03 per cent in the similar quarter of previous fiscal.
Also, net NPAs grew to 1.61 per cent of net advances, over 0.97 per cent in the year-ago period.
For the year ended March 2014-15, the bank’s net profit stood at Rs 11,175.35 crore as compared to Rs 9,810.48 crore a year ago.
Total income increased from Rs 54,606.02 crore for the year ended March 2014 to Rs 61,267.27 crore for the year ended March 2015.
On a consolidated basis, the group posted a net profit of Rs 3,084.92 crore for the quarter under review as compared to Rs 2,724.26 crore for the corresponding quarter.
Total income increased from Rs 21,652.96 crore for the quarter ended March 2014 to Rs 24,914.26 crore for the quarter ended March 2015.
ICICI Bank shares closed 0.96 per cent down at Rs 305.15 apiece on the BSE.