ICICI Q4 Results 2022: Lender rejigs key managerial positions; approves appointment of Rakesh Jha as Wholetime Director

ICICI Q4 Results 2022: India’s second largest private lender has announced changes at key managerial positions, the bank informed in its filing to exchanges. The decision was taken in a board meeting that also approved the ICICI Q4 Results 2022

Board of Directors of ICICI Bank on Saturday approved the appointment of Rakesh Jha as a Wholetime Director (designated as Executive Director) of the Bank subject to regulatory approvals. Source: Reuters

ICICI Q4 Results 2022: India’s second largest private lender has announced changes at key managerial positions, the bank informed in its filing to exchanges. The decision was taken in a board meeting that also approved the ICICI Q4 Results 2022.

The Board of Directors of ICICI Bank on Saturday approved the appointment of Rakesh Jha as a Wholetime Director (designated as Executive Director) of the Bank subject to regulatory approvals for a period of five years effective from May 1, 2022 or the date of approval of his appointment by RBI, whichever is later, the exchange filing said.

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Jha would cease to be the Group Chief Financial Officer and Key Managerial Personnel of the Bank effective May 1, 2022, the filing further said.

The Board approved the appointment of Anindya Banerjee as the Group Chief Financial Officer and Key Managerial Personnel of the Bank with effect from May 1, 2022.

The Board also took on record the resignation of Vishakha Mulye, Executive Director with effect from May 31, 2022 consequent to her decision to pursue career opportunities outside the ICICI Group, the filing said.

Almost in line with D-street estimates, India’s second-largest private lender, ICICI Bank reported robust earnings in the fourth quarter of the financial year 2021-22 (Q4FY22). The bank registered strong year-on-year (YoY) growth in both profit and net interest income (NII) during quarter.

ICICI Bank Q4FY22 Results: Profit surges 59% YoY to Rs 7019 cr; lender announces Rs 5 dividend

As per the bank’s filing to exchanges, ICICI Bank’s profit after tax grew by 59 per cent YoY to Rs 7,019 crore in Q4FY22 from Rs 4,403 crore in a year-ago quarter, while NII increased by 21 per cent YoY to Rs 12,605 crore in March-end quarter of FY22 as against Rs 10,431 crore in Q4FY21.

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