 "ICICI Bank Q2 net up 12%, in line with estimates")
ICICI Bank, India's top private sector lender by assets, reported a 12% increase in quarterly profit due to faster retail loans growth.
Net profit rose to Rs 3,030 crore ($465 million) for its fiscal second quarter to Sept 30 from Rs 2,709 crore reported a year earlier, ICICI, which is also listed in New York, said in a statement.
Analysts on average had expected the lender to report a net profit of Rs 3,024 crore, according to data compiled by Thomson Reuters.
Gross bad loans as a percentage of total loans were 3.77% in the September quarter, compared with 3.68% in the previous three months.
($1 = 65.1600 Indian rupees)
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