ICICI Bank Q4 Results: ICICI Bank declares Rs 8 dividend, check out other details
Banking major ICICI Bank reported its results for the Jan - Mar ‘23 period. The lender reported a yearly growth of about 28% in net profits to Rs 9,852.70 crores. Total income also witnessed a yearly rise of roughly 26% to come in at Rs 53,922.75 crores.
The ICICI Bank share price has had a somewhat mixed performance of late. The ICICI Bank share price is down 1.7% so far in 2023 and up 18% in the past year. The Bank Nifty, meanwhile, has eased 2.5% in 2023 so far and gained 16.7% in the past year.
| Current Market Price | 1 Year Performance | 5 Year Performance |
| Rs 887.60 | 18% | 208.3% |
(as of 21st April, 2023)
So, how did ICICI Bank perform in other key parameters like deposits, advances, net interest income etc? Let’s try and decode!
Decoding ICICI Bank Q4 Earnings
ICICI Bank Q4 Total Income:
- Total income for the Jan - Mar ‘23 period came in at Rs 53,922.75 crores, up 25.9% from the previous year. The total income was primarily driven by the 37.8% yearly growth witnessed in interest income to Rs 34,438.91 crores.
- Net interest income increased by 40.2% from the previous year to Rs 17,667 crores for the Jan - Mar ‘23 period. Meanwhile, non-interest income grew by 11.3% yearly to Rs 5,127 crores.
- Notably, fee income witnessed a yearly growth of 10.6% to Rs 4,830 crores in the Jan - Mar ‘23 period. Retail, rural, business banking and SME customers fees made up the bulk of the fees income.
- Net interest margin also improved from 4% in the previous year to 4.9% for the Jan - Mar ‘23 period.
| Name | Q4FY23 | Q4FY22 | YoY Growth |
| Total Income | Rs 53,922.75 crores | Rs 42,834.06 crores | 25.9% |
| Net Interest Income | Rs 17,667 crores | Rs 12,605 crores | 40.2% |
ICICI Bank Q4 Advances:
- Total advances grew by 18.7% from the previous year to Rs 10,19,638 crores in the Jan - Mar ‘23 period.
- Advances growth was witnessed in all the major segments of the bank in the Jan - Mar ‘23 period. Retail loans grew by 22.7% from the prior year while the business banking loans rose by 34.9% from the previous year. In the same vein, the rural loan growth was 13.8% from the prior year.
| Name | Q4FY23 | Q4FY22 | YoY Growth |
| Total Advances | Rs 10,19,638 crores | Rs 8,59,020 crores | 18.7% |
| Retail | Rs 5,57,817 crores | Rs 4,54,635 crores | 22.7% |
| Domestic Corporate | Rs 2,34,818 crores | Rs 1,93,734 crores | 21.2% |
| Rural | Rs 87,431 crores | Rs 76,830 crores | 13.8% |
| Business Banking | Rs 72,112 crores | Rs 53,437 crores | 34.9% |
| SME | Rs 48,221 crores | Rs 40,450 crores | 19.2% |
| Overseas | Rs 34,110 crores | Rs 41,284 crores | -17.4% |
ICICI Bank Q4 Deposits:
- Total deposits at the end of the Jan - Mar ‘23 period stood at Rs 11,80,841 crores, up 10.9% from the prior year. Both current account and savings account deposits witnessed a yearly rise of 9.3% and 7.5%, respectively in the March ‘23 quarter.
- In FY23, ICICI Bank added 480 branches to take its branch network to 5,900 branches at the end of the Jan - Mar ‘23 period.
| Name | Q4FY23 | Q4FY22 | YoY Growth |
| Total Deposits | Rs 11,80,841 crores | Rs 10,64,572 crores | 10.9% |
| Current Deposits | Rs 1,61,486 crores | Rs 1,58,480 crores | 1.9% |
| Savings Deposits | Rs 3,79,776 crores | Rs 3,59,957 crores | 5.5% |
| Term Deposits | Rs 6,39,579 crores | Rs 5,46,135 crores | 17.1% |
ICICI Bank Q4 Profits:
ICICI Bank reported a net profit of Rs 9,852.70 crores for the Jan - Mar ‘23 period, up 27.6% from the previous year.
| Name | Q4FY23 | Q4FY22 | YoY Growth |
| Net Profits | Rs 9,852.70 crores | Rs 7,718.94 crores | 27.6% |
ICICI Bank dividend:
The company proposed a dividend of Rs 8 per share.
ICICI Bank Q4: Analyst View
- Emkay Global has a ‘buy’ rating on the stock with a share price target of Rs 1250 per share. The brokerage maintained ICICI Bank as its top pick in the banking space, given its superior financial performance, top-management stability/credibility and strong capital/provision buffers.
- CLSA also maintained ICICI Bank as its top pick and assured highest earnings certainty for ICICI Bank over the next 3 years.
- JM Financial has a buy rating on the firm with a share price target of Rs 1115. The brokerage continues to like ICICI Bank management’s consistent focus on adjusting risk, capturing the maximum value in the customer ecosystem while keeping asset quality under check.
This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.
What was ICICI Bank net profit for Q4FY23?
ICICI Bank reported a net profit of Rs 9,852.70 crores for the Jan - Mar ‘23 period, up 27.6% from the previous year.
What was ICICI Bank net interest income in Q4FY23?
ICICI Bank reported a net interest income of Rs 17,667 crores for the Jan - Mar ‘23 period, up 40.2% from the previous year.
What were ICICI Bank advances in Q4FY23?
ICICI Bank reported advances of Rs 10,19,638 crores for the Jan - Mar ‘23 period, up 18.7% from the previous year.
What were ICICI Bank deposits in Q4FY23?
ICICI Bank reported deposits of Rs 11,80,841 crores for the Jan - Mar ‘23 period, up 10.9% from the previous year.