ICICI Bank Q4 net profit up 10 percent, beats estimates

MUMBAI (Reuters) - ICICI Bank Ltd , India's biggest private sector lender by assets, reported a 10 percent rise in quarterly net profit on Monday, beating analyst estimates, on growing demand for credit in Asia's third-largest economy.

ICICI, which is also listed in New York , said net profit rose to 29.22 billion rupees ($458.9 million) for its fiscal fourth quarter to end-March, from 26.52 billion rupees a year earlier.

Analysts on average had expected the lender to report a net profit of 28.65 billion rupees.

Gross bad loans ratio rose to 3.78 percent in the March quarter compared with 3.40 percent in the third quarter. ($1 = 63.6700 rupees)

 

(Reporting by Devidutta Tripathy; Editing by Anand Basu)