ICICI Bank Ltd's Q4FY19 standalone net profit declines 5% yoy to Rs969cr : Misses Estimates

The bank’s standalone NII stood at Rs7,620cr, up 26.54% yoy and 18.74% qoq.

May 06, 2019 11:05 IST India Infoline Research Team

ICICI Bank Ltd Q4FY19

Standalone Results Q4FY19: ( cr)

Q4FY19 YoY (%)
NII 7,620 26.5
GNPA (%) 7.4 -37
Provisions 5,451 [17.7]
Net Profit (adjusted) 969 [5]
***GNPA change is on qoq basis bps

ICICI Bank's Q4FY19 NII came at Rs7,620cr as against Rs6,021.7cr, which is up by 26.5% yoy. The bank has reported a net profit of Rs969cr in Q4FY19, as against Rs1,020cr yoy. The overall NIM for the quarter came at 3.72%. Its GNPA for Q4FY19 came at 7.38% against 7.75% qoq which has decreased by 37bps. NNPA for the quarter came at 2.29% against 2.58% qoq which has declined by 29bps.

  • Domestic loan growth at 17% yoy to Rs 5,86 lakh cr at March 31, 2019 driven by retail. Retail loans grew by 22% yoy and constituted 60% of the loan portfolio at March 31, 2019.
  • The core operating profit increased by 17% yoy to Rs22,072cr in FY19 from Rs18,940cr in FY18.
  • Fee income grew by 15% yoy in Q4FY19.
  • The net interest margin was 3.72% in Q4FY19 compared to 3.40% Q3FY19. The impact of interest on income tax refund and interest collection from NPLs on net interest margin was about 25bps in Q4FY19 compared to about 18bps in Q3FY19.
  • CASA ratio came at 49.6% for the quarter under review. 
  • Provision coverage ratio increased from 60.5% at March 31, 2018 to 80.7% at March 31, 2019.
  • Total capital adequacy ratio of 16.89% and Tier-1 capital adequacy ratio of 15.09% on standalone basis at March 31, 2019. 

Technical View:

ICICI Bank Ltd ended at Rs. 401.40, down by 0.45 points or 0.11% from its previous closing of Rs. 401.85 on the BSE.
The scrip opened at Rs. 398 and touched a high and low of Rs. 404.85 and Rs. 394.45 respectively. A total of 2,15,86,776 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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