India’s largest in the private sector ICICI Bank reported a 9.6% decline in net revenue after tax at 741 million dollars for the financial year ended on March 31, against 820 million dollars for the last year.

The ICICI’s board of directors met last Saturday (25 April) to mull over the audited accounts for fiscal year 2008-09. The board suggested a dividend of Rs.11 each share. It is as same as last year. However, the bank gained a higher net interest income of $1,650 million for the financial year under review, increase 15% over 1,440 million got during the year before. Among the others 12% were up in operating income and 14% drop in costs because of rationalization of expenditure. On the other hand, its capital sufficiency ratio was strong at 15.5% as well.

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