ICICI bank dividend: ICICI Bank’s net profit has tripled to Rs 4403 crore in the March quarter.
Private sector ICICI Bank has announced a dividend for investors. The bank has announced to issue a dividend of Rs 2 per share to its investors. The bank’s results for the March quarter have also been released and on an annual basis, it has risen by 260 per cent. Amid the announcement of dividend, today its stock is seeing a significant increase. At 2.40 pm, the stock was trading up by Rs 20 to trade at Rs 589.90.
The 52-week high of this stock is Rs 679 and the lowest level is Rs 285. The market cap of this bank is 4 lakh 7 thousand crore rupees. In the last three months, the stock has given 10 per cent and 76 per cent returns in a year. In Pearce, HDFC Bank has given 50 per cent in one year, Kotak Mahindra has given 42 per cent, Axis Bank 72 per cent and IndusInd Bank has given 123 per cent. It is the second largest bank in the country in a private bank. HDFC Bank is at number one and has a market cap of Rs 7.75 lakh crore.
Net profit stood at Rs 4403 crore.
ICICI Bank’s net profit for the March quarter stood at Rs 4403 crore. Net profit in this quarter of 2020 was Rs 1221 crore. In this way, on an annual basis, it has registered a growth of 260 percent. The bank’s total income stood at Rs 23953 crore in the January-March quarter. It was Rs 23443 crore in the same quarter of 2020. On a consolidated basis, the net profit of the bank was 4886 crores as against 1251 crores in the same period last year. On a consolidated basis, net income stood at Rs 43621 crore, which was Rs 40121 crore in the March quarter of 2020.
Decline in bad loans
The bank’s bad loans have registered a decline in the March quarter. The bank’s NPA has come down to 4.96 per cent, which was 5.53 per cent of the total loans as on 31 March 2020. The bank’s net NPA has also come down to 1.14 per cent from 1.41 per cent in the first quarter of 2020. ICICI Bank has reduced the bad loan provisioning for the January-March quarter to Rs 2883 crore from Rs 5967 crore in the March quarter of 2020. The bank has allocated Rs 2883 crore as provisioning for this quarter. The bank had provisioned Rs 5967 crore in the March 2020 quarter.
