ICICI Bank Q4 profit plunges 45 per cent to Rs 1,142 cr

New Delhi: ICICI Bank on Monday reported 45 per cent decline in consolidated net profit to Rs 1,142 crore for the fourth quarter ended March 31, 2017-18.

It had a net profit of Rs 2,083 crore in the January-March quarter of the preceding fiscal, 2016-17. The bank's standalone profit declined by 50 per cent to Rs 1,020 crore as against Rs 2,025 crore in the year-ago quarter.

The results come against the backdrop of a series of allegations of impropriety in ICICI Bank's extending loans to some companies and enjoying reciprocal benefits by the family members of the lender's CEO Chanda Kochhar.