ICICI Bank on Friday reported 21 per cent jump in net profit at Rs2,304.07 crore for the fourth quarter ended March 31. It had earned a net profit of Rs1,902 crore in the same period last year, ICICI Bank said in a statement.
Total income of the country's largest private sector bank rose to Rs12,573.52 crore in January-March quarter as compared to Rs11,403.10 crore in the same period previous fiscal. The bank proposed a dividend of 200 per cent, or Rs20, per share for 2012-2013.
On consolidated basis, the net profit of the bank during the fourth quarter improved by 38 per cent at Rs2,492 crore against Rs1,810 crore in the same period of the previous fiscal.
For the entire fiscal ended March 31, 2013, the bank's net profit on a standalone basis rose by 29 per cent at Rs8,325 crore, compared to Rs6,465 crore in 2011-12.
At the same time, total income increased to Rs48,421 crore during the year from Rs41,045 crore in the previous fiscal.
Net Interest Margin (NIM) rose to 3.11 per cent for 2012-13 as compared to 2.73 per cent in the previous fiscal.
Only transactional errors, no money laundering: Kochhar
ICICI Bank on Friday said some "transactional errors" have been discovered in the audit done following a sting operation by a online news portal but insisted there were no instances of money laundering.
"There have been instances of some errors which have been found. We would, to that extent, tighten our controls to reduce these errors but there have been no instances of money laundering that have taken place," ICICI's chief executive and managing director Chanda Kochhar told reporters after announcing the bank's Q4 results.
"These are transactional errors. In day-to-day working, any bank would have some amount of transactional errors. When you do an audit, you do discover some transactional errors but as I said, no instances of money laundering," she said.
Kochhar said the bank had set up an internal enquiry committee and also appointed Deloitte as an external auditor to carry out forensic analysis.