ICICI Bank’s board approves fundraising worth Rs 25,000 crore via NCDs
ICICI Bank’s board approves fundraising worth Rs 25,000 crore via NCDs
The board of directors of the ICICI Bank on April 27 approved raising funds through non-convertible debentures worth Rs 25,000 crore in the domestic market in one-year.
The Board approved raising the funds through the issuances of bonds/ notes/ offshore certificate of deposits in overseas markets up to $1.50 billion for a period of one year, the lender said in an exchange filing.
The lender further informed that the Board also authorised buyback of debt securities within the limits that it is authorised to approve under applicable law.
The private sector lender today reported a net profit of Rs 10,707 crore for the January-March quarter of the financial year 2023-24, which marks a 17 percent jump as compared to Rs 9,122 crore clocked in the year-ago period.
The net profit is in line the market estimates of Rs 10,331 crore. The bank recommended a dividend of Rs 10 per share.
The net interest income (NII) of Rs 19,093 crore, increased by 8 percent as compared to Rs 17,667 crore reported in the corresponding quarter of the previous fiscal. The NII is slightly higher as against the estimates of Rs 18,958 crore.
The bank’s gross non-performing asset (NPA) stood at 2.16 percent, down from 2.81 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 0.42 percent compared to 0.48 percent last year.