Winning Bizness Desk
Mumbai. ICICI Bank has released the results for the fourth quarter (January-March 2022) of 2021-2022 in which its net profit for the quarter grew 59.4% year-on-year to Rs 7,018.7 crore. ICICI Bank's net interest income grew 20.8% to Rs 12,605 crore in the March 2022 quarter.
Less spending on provisioning
ICICI Bank said that income has increased due to less expenditure on provisioning. The bank's provisioning fell 63% to Rs 1069 crore in the March 2022 quarter. ICICI Bank's net interest income has grown by 17% year-on-year.
- * ICICI Bank's non-interest segment also posted 11% year-on-year growth at Rs 4,608 crore.
- * Along with this, the fee income of the bank increased by 14% to Rs 4,366 crore in the March quarter.
- * The bank has made a treasury gain of Rs 129 crore in the March 2022 quarter.
- * Total deposits grew 14% year-on-year to Rs 10,64,572 crore.
- * Term deposits rose 9% to Rs 5.46 lakh crore.
The board of ICICI Bank has also approved a dividend of Rs 5 per share for the shareholders. The asset quality of the bank has also registered a strong improvement.