ICICI Bank on Friday reported profit after tax at Rs 702 crore for the quarter ending March 3, 2016 against Rs 2,922 crore of the same period last year.
The bank said that weak global economic environment, the sharp downturn in the commodity cycle and the gradual nature of the domestic economic recovery has adversely impacted the borrowers in certain sectors like iron and steel, mining, power, rigs and cement.
Shares of the bank were seen trading at Rs 233, lower by 2.79 per cent on BSE at 1.42 pm IST. It touched an intra-day low of Rs 231 during the trade.
Here are 6 major key takeways from ICICI Bank Q4
1) Net interest income increased by 6% to Rs 5,404 crore in the quarter ended March 31, 2016 from Rs 5,079 crore in the quarter ended March 31, 2015.
2) The year-on-year growth in domestic advances was 16%. The Bank has continued to see robust growth in its retail business resulting in a year-on year growth of 23% in the retail portfolio.
3) The Bank's capital adequacy at March 31, 2016 as per Reserve Bank of India's guidelines on Basel III norms was 16.64% and Tier-1 capital adequacy was 13.09%, significantly higher than the regulatory requirements.
4) Net non-performing assets at March 31, 2016 were Rs 13,297 crore compared to Rs 10,014 crore at December 31, 2015. The Bank's net non-performing asset ratio was 2.67% at March 31, 2016 compared to 2.03% at December 31, 2015.
5) The Board of Directors has recommended a dividend of RS 5 per equity share of face value of 2 Rupees each for FY2016.
6) The Board of Directors of the Bank has today approved the sale of a part of its shareholding in ICICI Life through an initial public offering by the company, subject to market conditions and necessary approvals. The size and other details of the offer would be determined in due course.