Personal lender ICICI Financial institution Ltd on Saturday reported 30% leap in standalone internet revenue at Rs 9,122 crore for the quarter ending March 31, 2023 on the again of improved internet curiosity earnings and wholesome mortgage development. It reported standalone internet revenue of Rs 7,029 crore within the year-ago interval.

On Friday, ICICI Financial institution’s scrip on BSE closed buying and selling 0.8% decrease at Rs 887.6.

Web curiosity earnings, the distinction between curiosity earned and paid, rose 40.2% to Rs 17,667 crore whereas the personal lender’s internet curiosity margin widened to 4.9% from 4%.

Its whole advances grew by 18.7% largely led by retail loans whereas deposits grew 10.9%.

ICICI Financial institution’s asset high quality improved, with its gross non-performing property (NPA) ratio falling to 2.81% from 3.6% a 12 months earlier. It booked provisions and contingencies of Rs 1,620 crore, up from Rs 1,069 crore.

“Whole capital adequacy ratio was 18.34% and Tier-1 capital adequacy ratio was 17.60% on a standalone foundation at March 31, 2023,” stated ICICI Financial institution in a inventory trade submitting.

The lender’s board really helpful a dividend of Rs 8 per share, topic to requisite approvals.

“The Board has really helpful a dividend of Rs 8 per share (equal to dividend of $0.10 per ADS) consistent with relevant pointers. The declaration of dividend is topic to requisite approvals. The report/e book closure dates can be introduced sooner or later,” stated the lender in earnings assertion.

Provisions elevated by 51.5% year-on-year to Rs 1,619 crore in Q4FY23 from Rs 1,069 crore in Q4FY22.