ICICI Bank Q2 net up 12 percent, in line with estimates

MUMBAI (Reuters) - ICICI Bank Ltd, India's top private sector lender by assets, reported a 12 percent increase in quarterly profit due to faster retail loans growth.

Net profit rose to 30.3 billion Indian rupees ($465 million)for its fiscal second quarter to Sept. 30 from 27.09 billion rupees 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 30.24 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans were 3.77 percent in the September quarter, compared with 3.68 percent in the previous three months.

 

($1 = 65.1600 Indian rupees)

(Reporting by Devidutta Tripathy; Editing by Muralikumar Anantharaman)