ICICI Bank, the private sector bank announced results for the quarter ended on March 2021. The shares of ICICI Bank closed at Rs 569 on Friday ahead of the announcement of the quarterly results.
ICICI Bank March quarter results:
The net profit of ICICI Bank has been recorded at Rs 1,221.4 crore in the March quarter of 2020. The standalone profit of the private sector bank rose to Rs 4,402.61 crore in the quarter ended March 2021. ICICI Bank's profit rose by 260.5 percent on a year-on-year basis.
The net interest income of ICICI Bank was posted at Rs 8,926.9 crore in Q4FY20. ICICI Bank's net interest income increased to Rs 10,431 crore in Q4FY21, at an increase of 16.9% as compared to the quarter in the previous fiscal.
ICICI Bank's net interest margin was recorded at 3.67 percent in the quarter ended December 2020. The net interest margin rose by 3.84 percent in March quarter FY21.
ICICI Bank issued loans to small and medium enterprises at an increase of 32.5% as compared to the corresponding quarter of the previous fiscal. The loans for small and medium enterprises amounted to Rs 30,284 crore.
The consolidated profit after tax was recorded at Rs 1,251 crore in the quarter ended on March FY20. The consolidated profit after tax rose to Rs 4,886 crore in the quarter ended on March 2021.
ICICI Bank board recommends
dividend:
Under the ECLGS 2.0 scheme, the private sector bank has disbursed loans amounting to Rs 1,500 crore.
Provisions for ICICI Bank were recorded at Rs 5967.44 crores in the March quarter of 2020. The provisions decreased to Rs 2,883.47 crore, at a decrease of 51.68% during the March 2021 quarter.
At the end of March 2021, ICICI Bank has stated that it had a network of 5,266 bank branches and 14,136 ATMs.
Fee income for the private sector bank was recorded at Rs 3,598 crore in the corresponding quarter of the previous fiscal. The fee income rose to Rs 3,815 crore, at an increase of 6 percent on a year-on-year basis.
ICICI Bank's board has recommended a dividend of Rs 2 per share for investors following required approvals and guidelines.
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