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ICICI Bank Limited Announces Performance Review – Quarter And Year Ended March 31, 2011

Stocks in this article: IBN

ICICI Bank Limited (NYSE:IBN):

  • 44% year-on-year increase in standalone profit after tax to Rs 1,452 crore (US$ 326 million) for the quarter ended March 31, 2011 from Rs 1,006 crore (US$ 226 million) for the quarter ended March 31, 2010
  • 28% increase in standalone profit after tax to Rs 5,151 crore (US$ 1.2 billion) for the year ended March 31, 2011 from Rs 4,025 crore (US$ 903 million) for the year ended March 31, 2010
  • 30% year-on-year increase in consolidated profit after tax to Rs 6,093 crore (US$ 1.4 billion) for the year ended March 31, 2011 from Rs 4,670 crore (US$ 1.0 billion) for the year ended March 31, 2010
  • Current and savings account (CASA) deposit ratio increased to 45.1% at March 31, 2011 from 41.7% at March 31, 2010
  • Net non-performing asset ratio decreased to 0.94% at March 31, 2011 from 1.87% at March 31, 2010 and 1.16% at December 31, 2010
  • Provision coverage ratio increased to 76.0% at March 31, 2011 from 59.5% at March 31, 2010 and 71.8% at December 31, 2010
  • Strong capital adequacy ratio of 19.54% and Tier-1 capital adequacy of 13.17%
  • Increase in dividend to Rs 14 per share proposed

The Board of Directors of ICICI Bank Limited (NYSE:IBN) at its meeting held at Mumbai today, approved the audited accounts of the Bank for the year ended March 31, 2011.

Profit & loss account

  • Profit after tax increased 44% to Rs 1,452 crore (US$ 326 million) for the quarter ended March 31, 2011 (Q4-2011) from Rs 1,006 crore (US$ 226 million) for the quarter ended March 31, 2010 (Q4-2010).
  • Net interest income increased 23% to Rs 2,510 crore (US$ 563 million) in Q4-2011 from Rs 2,035 crore (US$ 456 million) in Q4-2010.
  • Fee income increased 18% to Rs 1,791 crore (US$ 402 million) in Q4-2011 from Rs 1,521 crore (US$ 341 million) in Q4-2010.
  • Provisions decreased 61% to Rs 384 crore (US$ 86 million) in Q4-2011 from Rs 990 crore (US$ 222 million) in Q4-2010.
  • Profit after tax for the year ended March 31, 2011 (FY2011) increased 28% to Rs 5,151 crore (US$ 1.2 billion) from Rs 4,025 crore (US$ 903 million) for the year ended March 31, 2010 (FY2010).

Operating review

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