ICICI Bank Q4 Results: PAT grows 17.4%

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ICICI Bank Q4 results were announced on 27 April 2024. The results show a 19.2% YoY surge in the PBT, excluding treasury, bringing it to ₹14,602 crores this quarter and by 28.3% YoY to ₹54,479 crores in FY’24. The core operating profit saw a 10.5% YoY increase to ₹15,320 crores this quarter and an 18.3% YoY growth to ₹58,122 crores in FY’24.Read more... The ICICI Bank Board also proposed a dividend of ₹10 per share for FY’24. As of March 31, 2024, total deposits exhibited strong growth, with a 19.6% YoY increase and a 6.0% QoQ. Term deposits specifically saw a significant rise, climbing by 27.7% YoY and 1.6% QoQ. India's second-largest private lender, ICICI Bank maintained a healthy average liquidity coverage ratio of approximately 123% throughout the quarter.Read less


ICICI Bank, one of India’s most prominent banks, has been playing a key role in the Indian banking industry since it came into being in 1994, as a part of the ICICI group. On 27 April 2024, the ICICI Bank Q4 results were declared. The results show that In Q4-2024, the PAT surged by 17.4% YoY, reaching ₹10,708 crore, while in FY2024, it soared by 28.2% YoY to ₹40,888 crore. The bank also reported a 10.5% YoY increase in the core operating profit, which rose to ₹15,320 crore in this quarter, and by 18.3% YoY to ₹58,122 crore in FY’24

A growth of 19.6% YoY was also witnessed in the total deposits. As of 31 March 2024, total deposits at period-end expanded by 19.6% year-on-year and 6.0% quarter-on-quarter. While the period-end term deposits showed an increase of 27.7% YoYr and 1.6% QoQ, there was visible growth in account deposits as well. There was a 13% YoY increase while a 4.6 QoQ increase in the average current account deposit. That’s not all, the average savings account deposits grew by 4.6% YoY and 2.2% QoQ respectively, bringing the bank’s average liquidity coverage ratio for Q4 at about 123%.

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ICICI Bank Q4 Results: 5 Key Financial Highlights

  1. The PAT, profit after tax rose by 17.4% YoY to ₹10,708 crore, while in FY2024, it surged by 28.2% YoY to ₹40,888 crore.
  2. The average account deposits witnessed noticeable growth. Current account deposits increased by 13.0% and savings account deposits increased by 4.6% YoY.
  3. There was a surge in the advances as well. Domestic loans reflected a growth of 16.8% YoY while retail loans showed an increase of 19.4%.
  4. Net additions to gross NPAs amounted to ₹1,221 crore in Q4-2024, compared to ₹363 crore in Q3-2024.
  5. The Board has proposed a dividend of ₹10 per share, pending necessary approvals.

Additional Read129 Indian Companies to Release Q4 Results

ICICI Bank Q4 Results: Profitability Analysis

ICICI Bank attained an annualised Return on Assets (RoA) of 2.4% and a Return on Equity (RoE) of 18.5%. In FY24, Profit After Tax (PAT) reached ₹40,890 crore, reflecting a robust 28.2% year-on-year increase. The bank's Net Interest Margin (NIM) expanded by 8% year-on-year, driven by a strong 16.2% YoY increase in loans. However, NIMs saw a slight moderation of 3 basis points QoQ to 4.40%, despite a robust 2.7% QoQ growth.

Additional Read: Quarterly Results

ICICI Bank Q4 Results: Major Financial Metrics (₹ in crore)


Q4 FY 24

Q4 FY 23



Core operating income





Core operating profit 





Profit before tax (excl. treasury) 





Profit after tax





Average CASA ratio





Segment Strength

  • Loans:

ICICI Bank Q4 results show a noticeable increase across retail products. The mortgage portfolio saw a 14.9%YoY growth and a QoQ growth of 3.1%. Auto loans experienced a robust 19.2% YOY and 2.3% QoQ rise. Additionally, the commercial vehicles and equipment portfolio expanded by 14.1% YoY and 3.2% sequentially in the current quarter. Personal loans showed substantial growth, with a 32.5% YoY increase and a 5.0% sequential rise, compared to 37.3% YoY and 6.4% sequentially as of 31 December 2023.

  • Credit Quality
    There were net additions of ₹1,221 crore to gross NPAs in the current quarter, a notable increase from ₹363 crore in the previous quarter. This sequential rise is mainly attributed to increased recoveries and upgrades from the corporate and SME portfolio during the preceding quarter. Gross NPA additions amounted to ₹5,139 crore in the current quarter, slightly lower than the ₹5,714 crore recorded in the previous quarter.
  • Digital Offerings
    In FY24, the bank managed 71% of the trade transactions digitally. The volume of transactions conducted through the Trade Online platform surged by 29.2% YoY. As of 31 March 2024, there are over 17,190 ICICI Bank ATMs and CRMs. 

What The Future Holds for ICICI Bank?

ICICI Bank continues its strong performance with a high Return on Assets (RoA), good asset quality, and a stable balance sheet. Market expectations suggest that the Net Interest Margin (NIM) will stay high, leading to an increase in forecasts for FY25. However, there is a decrease in projections for FY26 due to the possible effects of a delayed rate cut cycle. ICICI has solid buffers in place, which can effectively safeguard or mitigate the potential impact on earnings, even in the face of adverse macroeconomic conditions.

Additional ReadAnnual Results


In the fourth quarter of the financial year 2024, the second largest private sector lender, ICICI Bank demonstrated robust performance, recording a notable 17.4% YoY increase in net earnings. This growth was propelled by healthy expansion in net interest income (NII), effective management of operating expenses, and controlled credit costs.

Results for the Fourth Quarter and Full Year Ended March 31, 2024

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Frequently Asked Questions

What were the key highlights of the ICICI Bank Q4 results?

Answer Field

Announced on April 27, 2024, key highlights ICICI Bank Q4 results include a 17.4% YoY surge in Profit After Tax (PAT) to ₹10,708 crore in Q4 FY24 and a 28.2% YoY increase to ₹40,888 crore in FY24.

What were the proposed dividends by ICICI Bank for FY2024?

Answer Field

The ICICI Bank's Board proposed a dividend of ₹10 per share for FY2024, pending necessary approvals.

Was there any growth in ICICI Bank digital impact?

Answer Field

In FY2024, digital trade transactions accounted for around 71% of the total. Additionally, transactions conducted through the Trade Online platform saw a notable 29.2% YoY increase in volume during the same period.

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