Private Banking major ICICI Bank reported a strong set of Q4FY24 earnings. ICICI Bank’s net profit for Q4FY24 came in at Rs 10,707 crore against Rs 9,121.9 crore in the same period last year, a massive jump of 17.4%. The bank’s Net Interest Income (NII) also jumped 8.1% on a YoY basis to Rs 19,092 crore against Rs 17,666 crore in the same period last year. The numbers beat analyst and street estimates on most of the parameters.
ICICI Bank’s asset quality also improved further. The bank’s gross non-performing assets fell 14 bps to 2.16% in Q4FY24 from 2.30% in the previous quarter. While the bank’s Net NPA fell 2 bps to 0.42% from 0.44% in the previous quarter of the same financial year.