ICICI bank Q4 net profit zooms 31%
The country's largest private sector lender ICICI Bank on Friday reported 31 per cent jump in net profit at Rs 1,902 crore for the fourth quarter of the 2011-12 fiscal.
It had profit of Rs 1,452 crore in the January-March quarter, 2010-11, ICICI Bank said in a statement.
During the fouth quarter, its total income increased to Rs 11,403 crore, from Rs 8,797 crore in the same quarter of the previous fiscal, the bank said.
Also, the lender's net interest margin improved to 3.01 per cent in Q4 FY'12, from 2.74 per cent during the same period the previous fiscal.
Further, the bank's consolidated profit after tax showed 25 per cent rise during the period, increasing to Rs 7,643 crore from Rs 6,093 crore.
For the entire fiscal, the bank's standalone PAT showed a rise of 26 per cent at Rs 6,465 crore, as against Rs 5,151 crore earlier.
In terms of credit growth, the bank showed a rise in advances by 17 per cent year-on-year to Rs 2,53,728 crore as on March 31, 2012, from Rs 2,16,366 crore earlier.
During the fiscal, while savings account deposits were Rs 76,046 crore, current account deposits stood at Rs 34,973 crore. CASA ratio was maintained at 43.5 per cent as on March 31, 2012.
Capital adequacy ratio was 18.52 per cent and Tier-1 capital adequacy was 12.68 per cent.
The bank's non-performing asset decreased by 23 per cent to Rs 1,894 crore, from Rs 2,459 crore at the end of March 2011.
'The bank has continued with its strategy of pursuing profitable growth. In this direction, the bank continues to leverage its strong corporate franchise, its international presence and its expanded branch network in India,' the statement said.
As on March 31, 2012, the bank had 2,752 branches and its ATM network had increased to 9,006, as compared to 6,104 last year.