ICICI Bank said its net profit for the three months ended March 31, 2019 stood at Rs 969.06 crore as against Rs 1,020 crore in the corresponding quarter of last year.

The bank's net profit in the third quarter ended December 31, 2018 stood at Rs 1,604.91 crore. Its total income for the March quarter rose to Rs 20,913.82 crore as against Rs 19,942.97 crore in the same quarter of fiscal previous to last.

Total expenditure of the bank in the given quarter rose to Rs 14, 680.43 crore as against 12,428.99 crore in March quarter FY19 and Rs 14, 016.83 crore in December 2018 quarter.

ICICI Bank said its net interest margin (NIM) for the March quarter stood at 3.72 percent while its net non-performing assets (NPA) decreased from 2.58 percent in December 2018 quarter to 2.06 percent. The bank said this net NPA is lowest in the last 13 quarters.

It said, "Net NPAs decreased by over 50 percent year-on-year to Rs 13,577

crore at March 31, 2019," adding, "Gross NPA additions in FY2019 were Rs 11,039 crore compared to Rs 28,730 crore in the year ended March 31, 2018."

"Net interest income (NII) increased by 27 percent year-on-year to Rs 7,620 crore in Q4 from Rs 6,022 crore in the quarter ended March 31, 2018," the bank said.

Credit Growth

The year-on-year growth in domestic advances was 17 percent at March 31, 2019, ICICI Bank said, adding, "... continued to leverage its strong retail franchise, resulting in a 22 percent year-on-year growth in the retail loan portfolio at March 31, 2019."

Excluding non-performing and restructured loans, the growth in domestic

corporate loans was about 14 percent year-on-year. Total advances increased by 15 percent year-on-year to Rs 586,647 crore at March 31, 2019

from Rs 512,395 crore at March 31, 2018.

Deposit Growth

ICICI Bank said its CASA deposits increased by 12 percent year-on-year to Rs 323,940 crore at March 31, 2019. The Bank’s CASA ratio was 49.6 percent at March 31, 2019 compared to 49.3 percent at December 31, 2018 and 51.7 percent at March 31, 2018. The average CASA ratio was 44.6 percent in Q4-2019 compared to 46.0 percent in Q3-2019 and 45.9 percent in Q4-2018.

Term deposits increased by 21 percent year-on-year to Rs 328,980 crore at March 31, 2019. Total deposits increased by 16 percent year-on-year to Rs 6,52,920 crore at March 31, 2019.

Capital Adequacy

The bank’s total capital adequacy at March 31, 2019 as per Reserve Bank of

India’s guidelines on Basel III norms was 16.89 percent and Tier-1 capital adequacy was 15.09 percent compared to the minimum regulatory requirements of 11.03 percent and 9.03 percent, respectively.

Asset quality

The net NPA ratio decreased from 2.58 percent at December 31, 2018 to 2.06 percent at March 31, 2019. The provision coverage ratio on non-performing loans, including cumulative technical/prudential write-offs, increased by 440 basis points sequentially to 80.7 percent at March 31, 2019, further strengthening the balance sheet. Excluding cumulative technical/prudential write-offs, the provision coverage on non-performing loans was 70.6 percent at March 31, 2019 compared to 47.7 percent at March 31, 2018. The gross additions to NPA were Rs 3,547 crore.

Share price of ICICI Bank closed at Rs 401.40 per share, down 0.11 percent on the BSE on Monday.

First Published:May 6, 2019 4:13 PM IST