(ICICI Bank Q4 net profit grows 18% YoY to ₹11,672 crore; board recommends a ₹10 per share dividend for FY24.)
ICICI Bank Q4 FY24 Results: Net Profit Up 18%, Dividend Announced
ICICI Bank has reported strong financial results for the fourth quarter of FY24, posting a net profit of ₹11,672 crore, marking an 18.5% year-on-year (YoY) growth. The results were announced on Saturday, April 27, 2024, following a board meeting. Along with the earnings, the bank’s board has recommended a final dividend of ₹10 per share, rewarding shareholders for the year’s performance.
🔍 Key Highlights of ICICI Bank Q4 Results 2024
- Net Profit (Q4 FY24): ₹11,672 crore (up from ₹9,853 crore YoY)
- Net Interest Income (NII): ₹19,093 crore, up 8.1% YoY
- Non-Interest Income: ₹5,930 crore (up 15.7% YoY)
- Provisions: ₹718 crore, down from ₹1,619 crore in Q4 FY23
- Gross NPA Ratio: Improved to 2.16% (from 2.30% QoQ)
- Net NPA Ratio: Reduced to 0.42% from 0.44% in Q3
- Capital Adequacy Ratio: 16.33% as of March 31, 2024
These figures reflect strong operational performance and effective risk management, according to the bank’s press release.
💼 Retail Lending & Business Growth
ICICI Bank continued to strengthen its retail portfolio, which now constitutes 54.9% of its total loan book. The total advances reached ₹11.84 lakh crore, registering a 16.2% YoY growth.
Deposits also witnessed a healthy rise, growing by 19% YoY, driven by strong CASA (Current Account Savings Account) growth and steady customer acquisition.
📉 Asset Quality Improves
ICICI Bank reported further improvement in its asset quality:
- Gross NPAs fell to 2.16%, reflecting continued recovery and limited slippages.
- Net NPAs were at just 0.42%, one of the lowest among Indian private banks.
This indicates that the bank’s credit underwriting and collection processes are holding up well, even amid macroeconomic challenges.
💸 Dividend Announcement: ₹10 Per Share
As part of its FY24 results, ICICI Bank’s board has recommended a final dividend of ₹10 per equity share. This move is likely to be well-received by investors, especially after the bank’s consistent financial performance over recent quarters.
The dividend is subject to shareholder approval at the upcoming annual general meeting (AGM).
📊 Stock Market Reaction & Investor Sentiment
Following the results announcement, ICICI Bank shares are expected to remain in focus on NSE and BSE when the market reopens. The stock had closed the previous session on a positive note, and analysts predict stable growth given the bank’s robust fundamentals.
You can track ICICI Bank’s stock performance here.
http://infosys-q4-net-profit-drops-12-to-₹7033-cr-fy26
📈 Expert Insights: A Sustainable Growth Trajectory
According to analysts, ICICI has been a consistent performer, and its focus on retail lending, technology-led services, and healthy margins position it well for future growth. The drop in provisions and better asset quality reflect efficient risk management, especially in a high interest rate environment.
❓FAQs on ICICI Bank Q4 Earnings
Q1. What is ICICI Bank’s Q4 net profit for FY24?
A. The bank posted a net profit of ₹11,672 crore, an 18.5% YoY growth.
Q2. What dividend has ICICI declared for FY24?
A. ICICI Bank has recommended a ₹10 per share dividend, subject to shareholder approval.
Q3. How did ICICI perform in terms of loan growth?
A. Total advances grew by 16.2% YoY, driven by a 19.4% rise in the retail segment.
Q4. What is the Gross and Net NPA of ICICI in Q4 FY24?
A. Gross NPA stood at 2.16% and Net NPA at 0.42%, showing an improvement over the previous quarter.
Q5. What is the capital adequacy ratio of ICICI Bank?
A. The capital adequacy ratio stood at 16.33% as of March 31, 2024.
📣 Call to Action
💬 What’s your take on ICICI Bank’s performance? Will the dividend announcement boost investor confidence?
👉 Share your thoughts in the comments and follow us for more updates on QuickNews.Press.
