ICICI Bank continues growth trajectory, reports impressive Q4 numbers

 Price of ICICI Bank's stock NSE and ICICI Bank Q4 2023 results: ICICI Bank's stock will continue to be closely watched after the private lender reported impressive Q4 results. The second-largest private lender in India recorded an increase in profit of 30% YoY to Rs 9,121.8 crore.

Price of ICICI Bank's stock NSE and ICICI Bank Q4 2023 results: Following the private lender's release of solid Q4 earnings, shares of ICICI Bank Ltd., NSE: ICICIBANK, increased by about 1.5% in morning trading. On the NSE, the counter opened at Rs 905. The counter was up 1.6% or Rs 14.3 at Rs 900 at 9:20 AM.

According to ICICI Bank's regulatory filing, the second-largest private lender in India reported an increase in profit of 30% year over year (YoY) to Rs 9,121.8 crore in the quarter ended on March 31, 2023, as opposed to Rs 7018.71 crore in the same period a year ago.

The board of ICICI Bank has also recommended a dividend of $8 per equity share, which is excellent news for investors.

Additionally, the bank intends to issue debt securities, such as nonconvertible debentures, in domestic markets up to a total ceiling of 25,000 crore in order to raise money. Additionally, the bank hopes to raise up to $1.50 billion through the sale of bonds, notes, and offshore certificates of deposit in foreign markets.