ICICI Bank Dividend: ICICI Bank declares dividend of Rs 10/share.
ICICI Bank, India’s second-largest private sector lender, today reported a standalone net profit of Rs 10,707.53 crore for the quarter ended March 31, 2024, up 17.38 per cent from Rs 9121.87 crore reported in the previous year.
The company’s board of directors has recommended a dividend of ₹10 per share for fiscal 2024.
Interest disbursed during the quarter rose 41% year-on-year to Rs 18,855.56 crore, up from Rs 13,354.34.
The bank’s board also approved raising funds through issuance of debt securities, including non-convertible debentures (NCDs), in the domestic market up to an overall limit of Rs 25,000 crore. The board also approved the repurchase of debt securities to the extent authorized by the board under applicable law, the company filing said. During the reporting quarter, the bank’s Capital Adequacy Ratio (CAR) rose sequentially to Rs 16.33% from 14.61%. % in Q3 2024, down from 18.34% in Q4 2023 compared to the previous year. Gross NPAs decreased on YOY and QoQ basis. For the January-March quarter of FY24, GNPA was reported at Rs 27,961.68 against Rs 28,774.63 crore in Q3FY24 and Rs 31.183.70 in Q4FY23. On a consolidated basis, (PAT) grew 18.5% YoY to Rs 11,672 crore in Q4FY24. In the fourth quarter of 2023, it is Rs 9,853 crore. Consolidated assets increased by 20.7% YoY from Rs 19,58,490 crore as on March 31, 2023 to Rs 23,64,063 crore as on March 31, 2024.
