ICICI sets quarterly record profit as Q3 net rises 14 pct

MUMBAI (Reuters) - ICICI Bank Ltd, India's biggest private-sector lender, booked a 14 percent rise in quarterly profit on Friday, roughly matching analyst estimates and setting a record, as growth in income from interest and fees outpaced growth in bad loans.

The bank, which is also listed in New York , said net profit reached an all-time high of 28.89 billion rupees ($466.42 million) in the fiscal third quarter ended Dec. 31, from 25.32 billion rupees a year earlier.

The result compared with the 29.18 billion rupee average estimate of analysts polled by Thomson Reuters.

Net non-performing loans as a percentage of net advances was 1.27 percent, from 1.09 percent in the second quarter.

 

Shares of ICICI were 5 percent lower after the earnings release, versus a 1.6 percent fall in the Nifty.

($1 = 61.9400 rupees)

(Reporting by Devidutta Tripathy; Editing by Christopher Cushing)