ICICI Q4 net rises threefold to ₹4,403 cr.
The Hindu
Lender posts an almost 20% jump in retail loans and robust growth in CASA deposits in March quarter
ICICI Bank on Saturday reported fourth-quarter standalone net profit surged more than threefold to ₹4,403 crore, from ₹1,221 crore a year earlier, helped by an almost 20% jump in retail loans and robust growth in CASA deposits. For the full year, standalone profit more than doubled to ₹16,193 crore. In the three months ended March 31, provisions (excluding provision for tax) stood at ₹2,883 crore, compared with ₹5,967 crore in the year-earlier quarter. The bank said it had utilised contingency provision amounting to ₹3,509 crore towards proforma NPAs as of December 31, 2020, in the fourth quarter since these loans had now been classified as per the RBI guidelines.
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