ICICI Bank (ICICIBANK) Q4 99/00 earnings summary

Executive summary

• FY2000 post-tax profit rose 66.19% YoY to ₹105.30 crore; record results and the March 2000 NYSE ADS listing supported a stronger growth platform.

• Deposits grew 62.46% to ₹9,866.02 crore; advances including credit-like instruments rose 48.51% to ₹5,030.96 crore.

Financial highlights

• Total income increased 65.37% to ₹1,046.92 crore; operating profit reached ₹226.67 crore versus ₹124.60 crore, and PAT was ₹105.30 crore versus ₹63.36 crore.

• Net interest income grew 56.85% to ₹185.92 crore; non-interest income reached ₹194.05 crore, 18.54% of total income.

• Interest income rose 56.76%; other income increased 117.95%, while provisions and contingencies rose to ₹121.37 crore from ₹61.24 crore.

• Weighted-average EPS increased to ₹6.38 from ₹3.84; proposed dividend was ₹1.50 per eligible equity share versus ₹1.20.

Outlook and guidance

• Strategy targets continued top-line and bottom-line growth through technology-enabled retail, corporate and treasury services, with consolidation alongside faster growth after the equity infusion.

• FY2001 outlook anticipated stronger industrial growth and higher government borrowing, with technology upgrades and wider channel availability central to expansion plans.

• Centralized servers and databases were expected to be in place by end-August 2000; open B2B payment gateway solutions were planned.