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  • Writer's pictureAnkit Malviya

ICICI Bank share price jumped 2.5% today after stellar Q4 net profit;

ICICI Bank is one of the leading private sector banks in India. The bank's share price has been on an upward trend since the beginning of 2023, reflecting its strong financial performance and growth prospects. As of April 24, 2023, the bank's share price was Rs. 750.50, up by 1.35% from the previous close of Rs. 740.25. The bank has a market capitalization of Rs. 4.86 lakh crore, making it the third-largest bank in India by market value. The bank has reported a net profit of Rs. 6,927 crore for the quarter ended March 31, 2023, an increase of 17% year-on-year. The bank's total income rose by 14% to Rs. 24,713 crore, while its net interest income grew by 16% to Rs. 10,431 crore. The bank's asset quality also improved, as its gross non-performing assets ratio declined to 4.96% from 5.53% a year ago. The bank's provision coverage ratio stood at 78.62%, indicating its adequate buffer against potential losses.

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