ICICI Bank FY11 credit demand seen up 16-20%

ICICI Bank, the country's second-largest lender, expects credit demand to grow by 16 to 20 per cent in the year to March 2011, its Chief Executive Officer Chanda Kochhar said today.

Chanda Kochhar said the bank would see a reduction in bad loans provision going forward. Earlier, the bank reported a 35 per cent rise in quarterly profit to RS 1,006 crore. ($227 million).