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ICICI Bank Announces Performance Review – Quarter And Year Ended March 31, 2012

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, 2012 (FY2012).

Profit & loss account
  • Standalone profit before tax increased 38% to Rs 2,642 crore (US$ 519 million) for the quarter ended March 31, 2012 (Q4-2012) from Rs 1,921 crore (US$ 378 million) for the quarter ended March 31, 2011 (Q4-2011).
  • Standalone profit after tax increased 31% to Rs 1,902 crore (US$ 374 million) for Q4-2012 from Rs 1,452 crore (US$ 285 million) for Q4-2011.
  • Net interest income increased 24% to Rs 3,105 crore (US$ 610 million) in Q4-2012 from Rs 2,510 crore (US$ 493 million) in Q4-2011.
  • Net interest margin improved to 3.01% for Q4-2012 from 2.74% for Q4-2011).
  • Non interest income increased by 36% to Rs 2,228 crore (US$ 438 million) in Q4-2012 from Rs 1,641 crore (US$ 323 million) in Q4-2011.
  • Standalone profit after tax increased 26% to Rs 6,465 crore (US$ 1.3 billion) for FY2012 from Rs 5,151 crore (US$ 1.0 billion) for FY2011.

Operating review

The Bank has continued with its strategy of pursuing profitable growth. In this direction, the Bank continues to leverage its strong corporate franchise, its international presence and its expanded branch network in India. At March 31, 2012, the Bank had 2,752 branches, the largest branch network among private sector banks in the country. The Bank has also increased its ATM network to 9,006 ATMs at March 31, 2012 as compared to 6,104 at March 31, 2011.

Credit growth

Advances increased by 17% year-on-year to Rs 253,728 crore (US$ 49.9 billion) at March 31, 2012 from Rs 216,366 crore (US$ 42.5 billion) at March 31, 2011.

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