ICICI Bank posts 17 per cent rise in Q4 net profit at Rs 10,707cr; declares dividend of Rs 10 per share

Mumbai: The country's second-largest private sector lender ICICI Bank, on Saturday reported a 17.38 per cent increase in net profit to Rs 10,707 crore for the January-March quarter of the financial year 2023-24, compared to the corresponding figure of Rs 9,122 crore in the same quarter a year ago.

The bank has recommended a dividend of Rs 10 per share.

ICICI Bank recorded an 8 per cent increase in net interest income (NII) at Rs 19,093 crore for the quarter compared to Rs 17,667 crore reported in the same quarter of 2022-23.

The bank also recorded an improvement in its asset quality with gross non-performing assets (NPA) dropping to 2.16 per cent of total loans from 2.81 per cent in the same quarter last year.

The net NPA for the quarter fell to 0.42 per cent from 0.48 per cent in the previous year.