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ICICI Bank

Mumbai: The ICICI Bank posted an increase of 31 percent for the quarter ended March 31 at INR 1,901.76 crore due to a decline in bad debts.

On Friday India's largest private sector lender posted a net profit of INR 1,452 crore during the like period of the previous financial year.

In a regulatory filing the company said that the total income stood at INR 11,403 crore during the quarter under review - up 30 percent against INR 8,797 crore during the like period of 2010-11.

The bank has posted an increase of 25.5 percent in net profit for the year ended March 31, 2012, at INR 6,465.3 crore against INR 5,151.4 crore a year ago.

The total income during the period under review stood at INR 41,045 crore, up 26 percent against INR 32,621.95 crore in 2010-11.

"Our growth momentum has picked up quite well across the segments of retail and corporate," said Chanda Kochhar, managing director and chief executive officer, ICICI Bank.

"We are seeing stable asset quality. Retail assets continue to remain stable," she added.

The current and savings account ratio of the bank is maintained at 43.5 percent as on March 31, 2012, while the net non-performing asset ratio decreased to 0.62 percent from 0.94 percent year on year.

The advances of the bank increased by 17 percent year-on-year to INR 2,53,728 crore as on March 31, 2012 from INR 216,366 crore a year ago.

The bank has also recommended a dividend of INR 100 per preference share on 350 preference shares of the face value of INR 1 crore each and a dividend of INR 16.50 per equity share of face value of INR 10 each.

ICICI Bank had 2,752 branches across the country as on March 31, 2012. It has also increased its ATM network to 9,006 units as on March 31, 2012 as compared to 6,104 on March 31, 2011.

At the Bombay Stock Exchange the shares of ICICI Bank were 3.01 percent up to trade at INR 866.90.

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