ICICI Bank reports 18.5% growth in Q4 net profit at ₹11,672 crore
The Hindu
ICICI Bank said its March 2024 quarter consolidated net grew 18.5% to ₹11,672 crore.
Private sector lender ICICI Bank on April 27 said its March 2024 quarter consolidated net grew 18.5% to ₹11,672 crore.
It had reported a net profit of ₹9,853 crore in the year-ago period.
On a standalone basis, the second largest private sector lender showed a 17.4% growth in its profit after tax at ₹10,708 crore for the reporting quarter against ₹9,122 crore in the year-ago period.
The core net interest income increased 8.1% to ₹19,093 crore on a 16.8% growth in loans and a marginal compression in net interest margin to 4.40%.
The non-interest income, excluding the performance of the treasury, came at ₹5,930 crore, 15.7% higher than the year-ago period.
The provisions more than halved to ₹718 crore for the reporting quarter, as per the exchange filing by the lender.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.
Suzlon announces three new AI-enabled smart blade factories, expanding its manufacturing footprint to 20 facilities in India.
Odisha Government terminates Silicon Tech Lab's empanelment for involvement in a recruitment scam and service agreement violations.