{"id":5037,"date":"2019-05-07T08:34:42","date_gmt":"2019-05-07T08:34:42","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=5037"},"modified":"2019-05-07T09:23:48","modified_gmt":"2019-05-07T09:23:48","slug":"higher-expenses-drop-icici-bank-q4-net-profit-to-%e2%82%b9969-crore","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/higher-expenses-drop-icici-bank-q4-net-profit-to-%e2%82%b9969-crore\/","title":{"rendered":"Higher expenses drop ICICI Bank Q4 net profit by 5% to \u20b9969 crore"},"content":{"rendered":"<p style=\"text-align: justify;\">Private sector lender ICICI Bank reported a 5% drop in net profit to\u00a0<span class=\"webrupee\">\u20b9<\/span>969 crore in the fourth quarter ended March 31, 2019, as a result of higher expenses. This was lower than\u00a0<span class=\"webrupee\">\u20b9<\/span>2,129 crore profit expected by analysts. Total expenses jumped 18.1% to<span class=\"webrupee\">\u20b9<\/span>14,680 crore.<\/p>\n<p style=\"text-align: justify;\">In comparison, the bank had posted a net profit of\u00a0<span class=\"webrupee\">\u20b9<\/span>1,020 crore in the same period last year. The bank&#8217;s asset quality improved quarter on quarter while net interest income went up 27% in the fourth quarter. ICICI Bank&#8217;s shares today ended flat at\u00a0<span class=\"webrupee\">\u20b9<\/span>401 ahead of the earnings announcement.<\/p>\n<p style=\"text-align: justify;\">The net NPA ratio dropped to 2.06% of advances as of March 31, 2019, from 2.58% at December 31, 2018. Net interest income (NII) increased by 27% year-on-year to<span class=\"webrupee\">\u20b9<\/span>7,620 crore in Q4-2019 from\u00a0<span class=\"webrupee\">\u20b9<\/span>6,022 crore in the quarter ended March 31, 2018 (Q4-2018).<\/p>\n<p style=\"text-align: justify;\">NII in Q4-2019 includes\u00a0<span class=\"webrupee\">\u20b9<\/span>414 crore of interest on income tax refund.\u00a0The net interest margin was 3.72% in Q4-2019 compared to 3.40% in the quarter ended December 31, 2018. Provisions were\u00a0<span class=\"webrupee\">\u20b9<\/span>5,451 crore in Q4-2019 compared to\u00a0<span class=\"webrupee\">\u20b9<\/span>6,626 crore in Q4-2018<\/p>\n<p style=\"text-align: justify;\">The gross additions to NPA were\u00a0<span class=\"webrupee\">\u20b9<\/span>3,547 crore in Q4-2019 as compared to\u00a0<span class=\"webrupee\">\u20b9<\/span>2,091 crore in Q3-2019. The gross NPA additions in Q4-2019 include an account in the sugar sector where the payment obligations are being met, which has been classified as non-performing pursuant to a regulatory interpretation communicated to banks relating to change in management.<\/p>\n<p style=\"text-align: justify;\">Recoveries and upgrades of non-performing loans were\u00a0<span class=\"webrupee\">\u20b9<\/span>1,522 crore in Q4-2019. Fee income increased 15% year-on-year to\u00a0<span class=\"webrupee\">\u20b9<\/span>3,178 crore<\/p>\n<p style=\"text-align: justify;\">Domestic loan growth at 17% year-on-year at March 31, 2019 driven by retail; tetail loans grew by 22% year-on-year and constituted 60% of the loan portfolio at March 31, 2019<\/p>\n<p style=\"text-align: justify;\">Provision coverage ratio (including technical\/prudential write-offs) increased from 60.5% at March 31, 2018 to 80.7% at March 31, 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private sector lender ICICI Bank reported a 5% drop in net profit to\u00a0\u20b9969 crore in the fourth quarter ended March 31, 2019, as a result of higher expenses. This was lower than\u00a0\u20b92,129 crore profit expected by analysts. Total expenses jumped 18.1% to\u20b914,680 crore. In comparison, the bank had posted a net profit of\u00a0\u20b91,020 crore in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3836,188,145],"class_list":["post-5037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-higher-expenses","tag-icici-bank","tag-npa"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Higher expenses drop ICICI Bank Q4 net profit by 5% to \u20b9969 crore - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/higher-expenses-drop-icici-bank-q4-net-profit-to-\u20b9969-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Higher expenses drop ICICI Bank Q4 net profit by 5% to \u20b9969 crore - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"Private sector lender ICICI Bank reported a 5% drop in net profit to\u00a0\u20b9969 crore in the fourth quarter ended March 31, 2019, as a result of higher expenses. 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