On April 27, the board of directors of ICICI Bank approved raising money in the domestic market in a year through the issuance of non-convertible debentures valued at Rs 25,000 crore.
According to an exchange filing by the lender, the Board approved raising the funds up to $1.50 billion for a one-year period through the issuing of bonds, notes, and offshore certificates of deposit in foreign markets.
In addition, the lender disclosed that the Board had approved the buyback of debt instruments up to the amount permitted by applicable law.
The private sector lender announced today a 17 percent increase in net profit to Rs 10,707 crore for the January-March quarter of FY 2023-24 from Rs 9,122 crore recorded the previous year.
The net profit of Rs 10,331 crore is in line with market predictions. For each share, the bank suggested a dividend of Rs 10.
Comparing the net interest income (NII) for the same quarter of the previous fiscal year, which came in at Rs 17,667 crore, to Rs 19,093 crore, showed an increase of 8%. The NII is somewhat higher than the Rs 18,958 crore expectations.
