ICICI Bank advanced 1.14% to Rs 755.85 after the bank delivered strong financial performance for the quarter and the year ended on 31 March 2022.
The private lender's standalone net profit rose 59.42% to Rs 7,018.71 crore on 14.44% increase in total income to Rs 27,412.32 crore in Q4 March 2022 over Q4 March 2020.
The bank's profit before tax (PBT) jumped 63.07% to Rs 9.223.99 crore in Q4 March 2022 over Q4 March 2020.
Net interest income (NII) increased by 21% year-on-year to Rs 12,605 crore in Q4 FY22 from Rs 10,431 crore in Q4 FY21. The net interest margin was 4% in Q4 FY22 compared to 3.84% in Q4 FY21 and 3.96% in Q3 FY22.
The bank's provisions and contingencies (excluding tax provisions) fell 62.93% to Rs 1,068.95 crore in Q4 FY22 over Q4 FY21. Provisions for Q4 FY22 included contingency provision of Rs 1,025 crore made on a prudent basis.
Provision coverage ratio on non-performing assets was 79.2% at 31 March 2022.
The bank's gross non-performing assets (NPAs) stood at Rs 33,919.52 crore as on 31 March 2021 as against Rs 37,052.74 crore as on 31 December 2021 and Rs 41,373.42 crore as on 31 March 2020.
The ratio of gross NPAs to gross advances stood at 3.60% as on 31 March 2021 as against 4.13% as on 31 December 2021 and 4.96% as on 31 March 2020.
The ratio of net NPAs to net advances stood at 0.76% as on 31 March 2021 as against 0.85% as on 31 December 2021 and 1.14% as on 31 March 2020.
On a standalone basis, the profit after tax grew by 44% year-on-year to Rs 23,339 crore in in the year ended 31 March 2022 compared with Rs 16,193 crore in the year ended 31 March 2021. Total income increased by 7% to Rs 1,04,892.08 crore in FY22 over FY21.
The retail loan portfolio, excluding rural loans, grew by 20% year-on-year and 6% sequentially, and comprised 52.8% of the total loan portfolio at 31 March 2022. Including non-fund outstanding, the retail loan portfolio, was 43.8% of the total portfolio at 31 March 2022.
Total deposits increased by 14% year-on-year and 5% sequentially to Rs 1,064,572 crore at 31 March 2022.
The domestic advances grew by 17% year-on-year and 6% sequentially at 31 March 2022. Total advances increased by 17% year-on-year and 6% sequentially to Rs 859,020 at 31 March 2022.
The bank's total capital adequacy at 31 March 2022 was 19.16% and Tier-1 capital adequacy was 18.35% compared to the minimum regulatory requirements of 11.70% and 9.70% respectively. The board recommended a dividend of Rs 5 per equity share.
ICICI Bank is a leading private sector bank in India. The bank had a network of 5,418 branches and 13,626 ATMs at 31 March 2022.
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