ICICI Bank - Q1FY14 Result First-Cut - Microsec

ICICI Bank Ltd. announced its Q1FY14 result on 31st July 2013.

The Bank's total income increased by 4.88% QoQ and 24.28% YoY to INR6304.76 crores, driven by 19.65% and 32.15% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) declined by 1.30% QoQ while, grew by 25.30% YoY to INR2274.21 crores. The Bank has increased its provision by 28.95% QoQ and 27.33% YoY to INR593.18 crores which has dragged its bottom line on QoQ basis.

During the quarter, the Bank's loans book and total deposits expanded by 12.27% and 8.73% YoY to INR301370.30 and INR291185.04 crores respectively. On the asset quality front, Net NPA and Gross NPA increased by 5bps and 1bps YoY to 0.82% and 3.23% respectively. Moreover, the Bank has improved its low cost deposit base such as CASA by 130bps QoQ and 260bps YoY to 43.20%. On the margin front, Net Interest Margin (NIM) decreased by 6bps QoQ while increased by 26bps YoY to 3.27%. Moreover, the Bank is well capitalized to support its growth trajectory with 17.04% of its Capital Adequacy Ratio (CAR) which is 8.04% higher than the regular's stipulated norm. Provision Coverage Ratio (PCR) healthy stood at 75.40%.

Source : Equity Bulls

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