ICICI Bank on Thursday reported a net profit of Rs.1,452 crore for the quarter ended March 31, 2011, an increase of 44 per cent compared to Rs.1,006 crore for the quarter ended March 31, 2010.
Pays dividend of Rs.14
The board has recommended a dividend of Rs.14 for 2010-11.
Net interest income increased by 23 per cent to Rs.2,510 crore from Rs.2,035 crore. Fee income increased by 18 per cent to Rs.1,791 crore from Rs.1,521 crore.
The net profit for the year ended March 31, 2011, increased by 28 per cent to Rs.5,151 crore from Rs. 4,025 crore in the previous year.
“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,” ICICI Bank stated in a press release. The bank had 2,529 branches and 6,104 ATMs as on March 31, 2011, the largest branch network among private sector banks in the country.
Advances increased by 19 per cent year-on-year to Rs.216,366 crore in 2010-11 from Rs.181,206 crore in 2009-10. Savings deposits increased by 26 per cent year-on-year to Rs.66,869 crore from Rs.53,218 crore and the CASA ratio increased to 45.1 per cent from 41.7 per cent.
The bank's capital adequacy for the year under review as per the Reserve Bank of India's revised guidelines on Basel II norms was 19.54 per cent and Tier-1 capital adequacy was 13.17 per cent, above RBI's requirement of total capital adequacy of 9 per cent and Tier-1 capital adequacy of 6 per cent.
Net non-performing assets decreased by 37 per cent to Rs.2,459 crore (Rs.3,901 crore).