 "ICICI bank signboard is reflected in a puddle on a street in New Delhi")
ICICI Bank Ltd, country's No.2 lender by assets, said its third-quarter net profit fell 19% as bad loans rose, although the profit decline was smaller than expected.
Net profit fell to Rs 2,442 crore for the three months to Dec. 31, from Rs 3,018 crore reported a year earlier, the Mumbai-based lender said on Tuesday.
Bad loans as a percentage of total loans rose to 7.91% at the end of December, from 6.82% at the end of September and 4.72% a year ago.
Indian banks have been hit hard by the government's shock cancellation in November of 86% of the
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