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ICICI Bank's net rises by 66% - Views on News from Equitymaster
 
 
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  • Apr 25, 2000

    ICICI Bank's net rises by 66%

    ICICI Bank has clocked 66.2% growth in the net profits to Rs 1,053 million for the FY 99-2000 over the previous period. In the last quarter the bank has recorded a profit of Rs 329.4 million against Rs 192.6 million in the corresponding previous quarter. The higher growth in the net profit is due to reduction in the cost because of adoption of latest technology by the bank.

    Operating profit of the bank in FY 99-2000 grew 57% to Rs 1,859 million against 1,185 million in the previous period. During the same period Advances given by bank rose 49% to Rs 50,309.6 million and Deposits increased by 62% to Rs 98,860.2 million.

    ICICI Bank's net Non Performing Assets(NPAs) declined to 1.14% from 1.8% in the previous period. Alsothe capital adequacy ratio of the bank is higher at 19.64% as against 9% stipulated by RBI.

    During the year the bank has achieved its target of registering more than one lakh internet banking users.

    (Rs m) FY1999 FY2000 Change
    Interest Income 5,441 8,529 56.8%
    Other Income 890 1,941 118.0%
    Interest Expenses 4,255 6,670 56.7%
    Operating Profit (EBDIT) 1,185 1,859 56.8%
    Operating Profit Margin (%) 21.8% 21.8%  
    Other Expenses 654 1,285 96.4%
    Profit before Tax 1,421 2,515 76.9%
    Profit after Tax/(Loss) 634 1,053 66.2%
    Net profit margin (%) 11.6% 12.3%  

     

     

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