MUMBAI: ICICI Bank Ltd, India’s biggest private sector lender, reported a record quarterly profit that beat analyst estimates, but bad loans rose and sent its shares lower.
Net profit rose 15% to 27.09 billion rupees (US$440.88mil) for its fiscal second quarter ended Sept 30, the Mumbai-based lender said in a statement. Analysts on average had expected a net profit of 26.93 billion rupees for ICICI Bank, which is also listed in New York. – Reuters
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