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ICICI bank FY-04 net up 35.73 % at Rs1,637 crore
Mumbai, Apr 30: Improved interest margins have pushed ICICI bank`s net profit for fy-04 by a 35.73 per cent at Rs 1,637 crore compared to Rs 1,206 crore posted in FY-03.
Mumbai, Apr 30: Improved interest margins have
pushed ICICI bank's net profit for fy-04 by a 35.73 per cent
at Rs 1,637 crore compared to Rs 1,206 crore posted in FY-03.
The board has recommended a 75 per cent dividend for
year 2003-04, involving a payout of Rs 614 crore, ICICI bank
deputy managing director Kalpana Morparia told reporters here
today.
The dividend would be payable to old shares and also to new shares issued in the recently concluded public issue.
The total income for reporting year was down to Rs 11,958.96 crore as against Rs 12,526.88 crore in 2002-03. The interest income was down to Rs 8,894.04 crore for 2003-04 from Rs 9,368.05 crore in FY-03. The other income stood at Rs 3,064.92 crore for FY-04 (Rs 3,158.83 crore in FY-03), Morparia added.
Consolidated net profit and total income for FY-04 stood at Rs 1,580.38 crore (Rs 1,152 crore in FY-03) and Rs 13,797.34 crore (Rs 13,405.77 crore) respectively.
Commenting on the profit growth in a competitive environment, she said the net interest margins rose to 1.9 per cent for FY-04 from 1.4 per cent a year ago.
The reduction in operating costs and refinancing of liabilities by low cost funds also contributed to growth in profits, she added. The retail portfolio brought in significant business and balance sheet size grew to Rs 1,25,229 crore for FY-04 as against Rs 1,06,812 crore at end of last year, she added.
Bureau Report
The dividend would be payable to old shares and also to new shares issued in the recently concluded public issue.
The total income for reporting year was down to Rs 11,958.96 crore as against Rs 12,526.88 crore in 2002-03. The interest income was down to Rs 8,894.04 crore for 2003-04 from Rs 9,368.05 crore in FY-03. The other income stood at Rs 3,064.92 crore for FY-04 (Rs 3,158.83 crore in FY-03), Morparia added.
Consolidated net profit and total income for FY-04 stood at Rs 1,580.38 crore (Rs 1,152 crore in FY-03) and Rs 13,797.34 crore (Rs 13,405.77 crore) respectively.
Commenting on the profit growth in a competitive environment, she said the net interest margins rose to 1.9 per cent for FY-04 from 1.4 per cent a year ago.
The reduction in operating costs and refinancing of liabilities by low cost funds also contributed to growth in profits, she added. The retail portfolio brought in significant business and balance sheet size grew to Rs 1,25,229 crore for FY-04 as against Rs 1,06,812 crore at end of last year, she added.
Bureau Report