MUMBAI (Reuters) - ICICI Bank Ltd, India's largest private-sector lender by assets, posted a 20.1 percent rise in second-quarter profit, beating analyst estimates, led by higher credit growth and income from fees.
Net profit for July-September was 23.5 billion rupees compared with 19.6 billion a year earlier, the bank said on Friday. Net interest income, or the difference between interest earned and paid, rose about 20 percent to 40.4 billion rupees.
The mean profit estimate of 23 analysts was 21.9 billion rupees, according to Thomson Reuters I/B/E/S.
Net interest margin, a gauge of profitability for banks, expanded to 3.31 percent during the quarter from 3 percent a year earlier.
Net non-performing loans, as a percentage of total assets, rose to 0.85 percent from 0.82 percent in the prior quarter.
(Reporting by Swati Pandey; Editing by Christopher Cushing)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app