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5 Takeaways from ICICI Bank's Q4 Results

Apr 25, 2022

5 Takeaways from ICICI Banks Q4 Results

India's second largest private lender ICICI Bank on Saturday reported its fourth quarter (Q4FY22) results.

Here are the key takeaways from its earnings shared in the press release...


  1. The private lender reported a 59% jump in net profit in January-March quarter of fiscal 2022, aided by robust increase in net interest income (NII) and lower provisions.

    Net profit totaled to Rs 70.2 bn in the quarter under review compared to Rs 44 bn in the year ago period.
  2. The company's NII grew by 21% in the same period to Rs 126.1 bn versus Rs 104.3 bn in the year ago period. Net interest margins expanded by 16 basis points YoY and 4 bps sequentially to 4%.
  3. ICICI Bank's provisions dropped 63% to Rs 10.7 bn in the same period. The bank has made contingency provision of Rs 10.3 bn in the quarter, thereby taking the Covid-19 related contingency provision to Rs 74.5 bn as of 31 March 2022.
  4. On the asset quality front, the lender's gross non-performing asset (NPA) ratio fell by 53 bps sequentially to 3.6%. Net NPA ratio declined by 9 bps to 0.76%.
  5. ICICI Bank's board has recommended a dividend of Rs 5 per share and the record/book closure dates will be announced in due course, according to the exchange filing.

Ahead of its results, shares of ICICI Bank ended nearly 2% lower on Friday, 22 April.

Interesting to note that shares of ICICI Bank have been on an uptrend since the past few weeks ahead of its earnings.

The stock has outperformed HDFC Bank and the broader Bank Nifty index in terms of stock performance this year as HDFC Bank drags the index lower.

chart

Ever since the RBI barred HDFC Bank from new digital launches (the bank is now lifted) and as it faced credit card hurdles, ICICI Bank has emerged as the new street favourite it appears.

HDFC Bank has been under pressure since the merger news and even before that when FIIs were on a selling spree.

Over the year gone by, shares of ICICI Bank have gained 31%.

To know more about the company, check out ICICI Bank's financial factsheet and its latest quarterly results.

You can also compare the bank with its peers.

ICICI Bank vs HDFC Bank

ICICI Bank vs Axis Bank

ICICI Bank vs Kotak Mahindra Bank

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such.

Yash Vora

Yash Vora is a financial writer with the Microcap Millionaires team at Equitymaster. He has followed the stock markets right from his early college days. So, Yash has a keen eye for the big market movers. His clear and crisp writeups offer sharp insights on market moving stocks, fund flows, economic data and IPOs. When not looking at stocks, Yash loves a game of table tennis or chess.

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