look news india
New Delhi, April 27 (Hindustan Reporter) ICICI Bank, the largest private sector, has announced the results for the fourth quarter (January-March) of the financial year 2023-24. In the fourth quarter ending March 31, 2024, the bank's net profit increased by 17.4 percent year-on-year to Rs 10,708 crore. The bank has announced a dividend of Rs 10.
In the information given to the stock market on Saturday, ICICI Bank said that in the fourth quarter ending March 31, 2024, the profit of the bank has increased by 17.4 percent on an annual basis to Rs 10,708 crore. Due to this, the bank had made a net profit of Rs 9,122 crore in the same period of the previous financial year 2022-23. In the January-March quarter, the bank's net interest income increased by 8.1 percent year-on-year to Rs 19,093 crore.
According to the bank, the gross non-performing assets (GNPA) in the fourth quarter stood at 2.16 percent, which is less than 2.81 percent in the same quarter of the previous financial year. At the same time, non-performing assets (NPA) for the January-March quarter have improved from 0.48 percent to 0.42 percent on an annual basis. ICICI's board of directors has also approved a dividend of Rs 10 per share, the bank said. It is noteworthy that companies give some part of the profits to their shareholders, it is called dividend.