ICICI Bank (IBN) Q4 Earnings Improve on Higher NII, Costs Rise

ICICI Bank Ltd’s (IBN) net income for the fourth quarter of fiscal 2024 (ended Mar 31) was INR 107.1 billion ( $1.3 billion), up 17.4% from the prior-year quarter.Results were driven by a rise in net interest income (NII), non-interest income and growth in loans and deposits. The company reported lower provisions during the quarter. However, higher operating expenses were an undermining factor.In fiscal 2024, net income of INR 408.9 billion ($ 4.9 billion) jumped 28.2% from the prior year.NII & Fee Income Imp ...