INSUBCONTINENT EXCLUSIVE:
Authors: Super UserICICI Bank on Monday reported around 50 per cent fall in bottom line for the quarter ended March 2018 as provisions for
bad loans more than doubled
The lender posted a standalone net profit of Rs 1,020 crore for the quarter under review against Rs 2,024.64 crore posted for the same
Analysts in an ETNow poll had predicted a net profit of Rs 980 crore for Q4.
Here are the top seven takeaways from ICICI Bank's fourth
quarter earnings:
Provisions contingenciesThe figure for the quarter jumped 128.61 per cent to Rs 6,625.75 crore from Rs 2,898.22 crore in
the same quarter last year
quarter from 7.82 per cent in December quarter and 7.89 per cent in the year-ago quarter.
Fresh slippages increased 259 per cent on a
quarter-on-quarter basis to Rs 15,737 crore from Rs 4,380 crore in Q3FY18
Gross NPA addition during the quarter under review included Rs 9,968 crore loans that were under RBI schemes and classified as standard on
Recoveries and upgrades from non-performing loans stood at Rs 4,234 crore in Q4-2018
Dividend for shareholdersThe board recommended a
dividend of Rs 1.50 per equity share for FY2018 on face value of Rs 2 per equity share.
Updates on Videocon loan issueDirectors of ICICI
Bank will meet on Tuesday to take up issues related to the loan related to the Videocon Group.
NII NIMStandalone net interest income (NII)
for the quarter increased 0.99 per cent to Rs 6,021.67 crore compared with Rs 5,962.16 crore in the year-ago quarter, whereas net interest
margin (NIM) increased from 3.14 per cent in the quarter ended December 31, 2017 to 3.24 per cent in the quarter ended March 31,
2018.
Credit growthTotal advances increased by 10 per cent year-on-year to Rs 512,395 crore at March 31, 2018 from Rs 464,232 crore at March
and Tier-1 capital adequacy was 15.92 per cent compared to the regulatory requirements of 10.98 per cent and 8.98 per cent,
respectively.
Consolidated resultsConsolidated net profit of the lender slipped 45 per cent to Rs 1,141.93 crore in Q4FY18 over Rs 2082.75
Consolidated assets grew by 14.1 per cent from Rs 985,725 crore at March 31, 2017 to Rs 1,124,281 crore at March 31, 2018.
