ICICI Bank. has revised its interest rates on wholesale fixed deposits (FDs) of over Rs. less than 2 crores 2 crores. After the change, the bank now offers interest rates ranging from 4.75% to 6.75% on terms ranging from 7 days to 10 years. Deposits maturing in one year to 15 months now offer a maximum return of 7.25%. According to the official website of the bank, the new bulk FD rates are effective from today, May 20, 2023.
ICICI Bank Bulk FD Rates
On deposits maturing in 7 days to 29 days, the bank is offering an interest rate of 4.75% and on deposits maturing in 30 days to 45 days, ICICI Bank is offering an interest rate of 5.50%. ICICI Bank is offering an interest rate of 5.75% on deposit tenure of 46 days to 60 days and 6.00% interest rate on deposit tenure of 61 days to 90 days. Deposits maturing in 91 days to 184 days will now fetch an interest rate of 6.50% and those maturing in 185 days to 270 days will fetch an interest rate of 6.65%.
On bulk deposits maturing in 271 days to less than 1 year, the bank is offering an interest rate of 6.75% and for maturing in 1 year to 15 months, ICICI Bank is now offering an interest rate of 7.25% Is. ICICI Bank is now offering an interest rate of 7% on deposits maturing in 15 months to 2 years and 6.75% on deposits maturing in 2 years 1 day to 10 years.
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The consolidated net income of the bank was 53,922.75 crore in Q4FY23, a growth of 25.88% YoY 42,834.06 crore in Q4FY22. Reported Net Expenses of ICICI Bank 38,716.56 crore for the quarter ending March 2023 as compared to Rs. 31,306.02 crore in the corresponding period of the previous financial year.
During the quarter under review, the operating profit (profit before provisions and contingencies) of the bank was 15,206.19 crore, up 31.90% YoY 31,306.02 crore in the corresponding quarter of FY22. The consolidated net profit of ICICI Bank was 9,122 Cr, up 30% from Q4FY23 7018.71 crore in Q4FY22. In Q4FY23, ICICI Bank’s EPS was above 13.84 10.88 in Q4FY22.
ICICI Bank said total deposits grew 10.9 per cent year-on-year 1,180,841 crore for the quarter ending March 31, 2023, with an average CASA ratio of 43.6%. The domestic loan portfolio grew by 20.5% YoY, while the net NPA ratio declined from 0.55% in Q3FY23 to 0.48% in Q4FY23.
ICICI Bank said its gross NPA ratio fell to 2.81% in Q4FY23, down from 3.07% in Q3FY23, and net non-performing assets fell to 25.9% year-on-year and 8.8% sequentially. 5,155 crores. Net Interest Income (NII) grew by 40.2% YoY in Q4-2023 17,667 crores to 12,605 crore in Q4-2022.
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Updated: May 20, 2023, 02:49 PM IST