• May 02, 2017
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ICICI Bank releases performance review: Quarter ended March 31, 2017

Performance Review: Quarter ended March 31, 2017

• 189% increase in standalone profit after tax from ` 702 crore (US$ 108 million) for the quarter ended March 31, 2016 (Q4-2016) to ` 2,025 crore (US$ 312 million) for the quarter ended March 31, 2017 (Q4-2017)
• 14% year-on-year growth in domestic advances; retail portfolio grew by 19% year-on-year and constituted 52% of the total portfolio at March 31, 2017
• 28% year-on-year growth in current and savings account (CASA) deposits; CASA ratio at 50.4% at March 31, 2017
• Standalone profit after tax of ` 9,801 crore (US$ 1.5 billion) for the year ended March 31, 2017 (FY2017)
• Consolidated profit after tax of ` 2,083 crore (US$ 321 million) for Q4-2017 and ` 10,188 crore (US$ 1.6 billion) for FY2017
• Total capital adequacy of 17.39% and Tier-1 capital adequacy of 14.36% on standalone basis at March 31, 2017
• The Board of Directors has recommended a dividend of ` 2.50 per equity share of face value of ` 2.00 each (equivalent to dividend of US$ 0.08 per ADS) and an issue of bonus shares in the ratio of 1 equity share for every 10 equity shares

The Board of Directors of ICICI Bank Limited (NYSE: IBN) at its meeting held at Mumbai, approved the audited accounts of the Bank for the quarter ended March 31, 2017.

Profit & loss account

• Net interest income increased by 10% on a year-on-year basis to ` 5,962 crore (US$ 919 million) in the quarter ended March 31, 2017 (Q4-2017) from ` 5,404 crore (US$ 833 million) in the quarter ended March 31, 2016 (Q4-2016)
• Non-interest income was ` 3,017 crore (US$ 465 million) in Q4-2017 compared to ` 2,978 crore (US$ 459 million), excluding gains of ` 2,131 crore (US$ 329 million) on sale of stake in insurance subsidiaries, in Q4-2016.
• Fee income increased by 11% on a year-on-year basis to ₹ 2,446 crore (US$ 377 million) in Q4-2017 from ₹ 2,212 crore (US$ 341 million) in Q4- 2016.
• Standalone profit after tax was ` 2,025 crore (US$ 312 million) for Q4- 2017 compared to ` 702 crore (US$ 108 million) for Q4-2016. In Q4-2016, the Bank had on a prudent basis made a collective contingency and related reserve of ` 3,600 crore (US$ 555 million).
• Standalone profit after tax was ` 9,801 crore (US$ 1.5 billion) for FY2017 compared to ` 9,726 crore (US$ 1.5 billion) for FY2016.
• Consolidated profit after tax was ` 10,188 crore (US$ 1.6 billion) in FY2017 compared to ` 10,180 crore (US$ 1.6 billion) in FY2016.

Re-disseminated by The Asian Banker