ICICI Bank Q4 net up 21% at Rs 2304 cr, proposes 200% dividend

ICICI Bank Q4 net up 21% at Rs 2304 cr, proposes 200% dividend Mumbai: ICICI Bank on Friday reported 21 percent jump in net profit at Rs 2,304.07 crore for the fourth quarter ended March 31.

It had earned a net profit of Rs 1,902 crore in the same period last year, ICICI Bank said in a statement.

Total income of the country's largest private sector bank rose to Rs 12,573.52 crore in January-March quarter as compared to Rs 11,403.10 crore in the same period previous fiscal.

The bank proposed a dividend of 200 percent, or Rs 20, per share for 2012-2013.

On consolidated basis, the net profit of the bank during the fourth quarter improved by 38 percent at Rs 2,492 crore against Rs 1,810 crore in the same period of the previous fiscal.

For the entire fiscal ended March 31, 2013, the bank's net profit on a standalone basis rose by 29 percent at Rs 8,325 crore, compared to Rs 6,465 crore in 2011-12.

At the same time, total income increased to Rs 48,421 crore during the year from Rs 41,045 crore in the previous fiscal.

Net Interest Margin (NIM) rose to 3.11 percent for 2012-13 as compared to 2.73 percent in the previous fiscal.

On asset quality front, gross non-performing assets (NPAs), as a proportion of advances, declined to 2.68 percent at the end of March 2013, as against 3.04 percent in the previous fiscal.

However, net NPAs rose marginally to 0.64 percent during the year from .062 percent at the end of March 2012.

ICICI Bank's consolidated profit increased by 26 percent to Rs 9,604 crore during the fiscal as against Rs 7,643 crore in 2011-12.

Its shares were, however, trading 3 percent down at Rs 1,141.45 apiece in late afternoon trade on the BSE.

PTI