ICICI Bank Limited on Saturday said its Board of Directors approved a dividend of ₹10 per equity share for the financial year 2024.
In a stock exchange filing, ICICI Bank said: “the Board recommended a dividend of ₹10/- (Rupees Ten only) per equity share of face value of ₹2/- each, subject to requisite approvals. The dividend on equity shares, will be paid/dispatched on or after the same is approved by the shareholders at the presenting Annual General Meeting (AGM) of the Bank.”
ALSO READ: ICICI Bank Q4 Results: Net profit rises 17% to ₹10,707 crore, NII up 8% YoY
Q4 financial results
The private sector lender on Saturday announced the financial results for the fourth quarter (Q4) ended March 31, 2024 of the fiscal year 2023-24 (FY24).
ICICI Bank reported 18.5 per cent growth in its March quarter FY24 consolidated net profit at ₹11,672 crore as compared to ₹9,853 crore in the same period a year ago.
Its core net interest income rose 8.1 per cent to ₹19,093 crore on a 16.8 per cent growth in loans and a marginal compression in net interest margin to 4.40 per cent.
The lender’s gross bad loan ratio narrowed to 2.16 per cent in the March quarter, from 2.3 per cent in the preceding quarter.
On standalone basis, the lender reported a 17.4 per cent rise in its profit after tax (PAT) at ₹10,708 crore for Q4 FY24 against ₹9,122 crore in the year-ago period.
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Fund raising
The bank also said that its Board has approved fund raising by issuing debt securities. “Fund raising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets upto an overall limit of ₹ 250.00 billion by way of private placement and issuances of bonds/notes/offshore certificate of deposits in overseas markets upto USD 1.50 billion for a period of one year, from the date of passing of resolution by the Board.”
Shares of ICICI Bank on Friday closed at ₹1,107.15, down 0.53 per cent on the BSE.
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