ICICI Bank Announces Record Date For Highest-Ever Dividend In Over A Decade
ICICI Bank's profit rose 18% year-on-year in quarter ended March on strong loan growth, and a rise in net interest income.
ICICI Bank Ltd. on Friday announced the record date for its dividend of Rs 11 per share. This is the highest ever dividend since its stock split in 2014.
The private lender has set the record date as Aug. 12, while the Annual General Meeting has been scheduled on Aug. 30.
The board's nod for the dividend is subject to requisite approvals, the bank said in an exchange notification. "The dividend on equity shares, will be paid after the same is approved by the members at the ensuing AGM," the notification added.
The bank's profit rose 18% year-on-year in quarter ended March 31, 2025 on strong loan growth, and a rise in net interest income.
Net interest income rose 11% over the year to Rs 21,193 crore. Consequently, net interest margin of the bank was 4.41% in January-March, up from 4.25% a quarter ago and 4.40% a year ago.
The private sector bank's asset quality improved, with the gross non-performing assets ratio falling to 1.67% as of March 31, compared to 1.96% in the previous quarter. The net NPA ratio fell to 0.39% from 0.42% in the prior quarter.
For the quarter ended March, the bank wrote off loans worth Rs 2,118 crore and sold loans worth Rs 2,786 crore.
Total advances of the bank rose over 13% on year to Rs 13.41 lakh crore. Deposits rose by 14% on year to Rs 16.10 lakh crore.
