|Hot Pursuit||Monday, April 30, 2012 11:24 Hrs IST|
ICICI Bank jumps 5% in 3 days after strong Q4 outcome
Meanwhile, the BSE Sensex was up 161.60 points or 0.94% to 17,348.94.
On BSE, 1.81 lakh shares were traded in the counter as against average daily volume of 6.14 lakh shares in the past one quarter.
The stock hit a high of Rs 898 and a low of Rs 872.05 so far during the day. The stock had hit a 52-week high of Rs 1,127.15 on 29 April 2011. The stock had hit a 52-week low of Rs 641 on 19 December 2011.
The stock had outperformed the market over the past one month till 28 April 2012, rising 1.14% compared with the Sensex's 0.38% gain. The scrip had, however, underperformed the market in past one quarter, falling 2.16% as against Sensex's 0.27% fall.
India's largest private sector bank by branch network has an equity capital of Rs 1152.75 crore. Face value per share is Rs 10.
The ICICI Bank stock has surged 4.99% in three trading sessions from Rs 841.55 on 26 April 2012, after the bank announced strong Q4 March 2012 earnings during trading hours on Friday, 27 April 2012.
ICICI Bank's net profit rose 31% to Rs 1901.76 crore on 29.6% growth in Rs 11403.10 crore in Q4 March 2012 over Q4 March 2011. Net profit rose 25.5% to Rs 6465.26 crore on 25.8% growth in total income to Rs 41045.41 crore in the year ended 31 March 2012 over the year ended 31 March 2011.
Net interest income (NII) increased 24% to Rs 3105 crore in Q4 March 2012 from Rs 2510 crore in Q4 March 2011. Net interest margin (NIM) improved to 3.01% for Q4 March 2012 from 2.74% for Q4 March 2011. Non-interest income increased by 36% to Rs 2228 crore in Q4 March 2012 from Rs 1641 crore in Q4 March 2011.
Advances increased by 17% year-on-year (YoY) to Rs 253728 crore at 31 March 2012 from Rs 216366 crore at 31 March 2011.
At 31 March 2012, savings account deposits were Rs 76046 crore and current account deposits were Rs 34973 crore. The CASA (current and savings account) ratio was maintained at 43.5% at 31 March 2012 as compared to 43.6% at 31 December 2011 and the average CASA ratio remained stable at 39.0% in Q4 March 2012.
The bank's Capital Adequacy Ratio (CAR) at 31 March 2012 as per Reserve Bank of India's guidelines on Basel II norms was 18.52% and Tier-1 capital adequacy was 12.68%, well above RBI's requirement of total capital adequacy of 9% and Tier-1 capital adequacy of 6%.
Net non-performing assets (NPAs) decreased by 23% to Rs 1894 crore at 31 March 2012 from Rs 2459 crore at 31 March 2011. The bank's net non-performing asset ratio decreased to 0.62% at 31 March 2012 from 0.94% at 31 March 2011 and 0.7% at 31 December 2011. The bank's provision coverage ratio computed in accordance with the RBI guidelines at 31 March 2012 was 80.4% compared to 76% at 31 March 2011. Net restructured assets at 31 March 2012 were Rs 4256 crore.
ICICI Bank's consolidated net profit rose 15.5% to Rs 1810.27 crore on 6.2% growth in total income to Rs 19300.53 crore in Q4 March 2012 over Q4 March 2011. Consolidated net profit rose 25.4% to Rs 7642.94 crore on 8.2% growth in total income to Rs 66658.28 crore in the year ended 31 March 2012 over the year ended 31 March 2011.
ICICI bank said it has continued with its strategy of pursuing profitable growth. In this direction, the bank continues to leverage its strong corporate franchise, its international presence and its expanded branch network in India. As on 31 March 2012, the bank had 2,752 branches, the largest branch network among private sector banks in the country. The bank has also increased its ATM network to 9,006 ATMs at 31 March 2012 as compared to 6,104 at 31 March 2011.
ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management.