ICICI Bank Q2 Profit Rises 20 Percent
ICICI Bank reported a higher-than-expected standalone net profit for the second quarter driven by robust loan demand and lower provisions for bad loans. Net interest income rose significantly while asset quality improved as the gross non-performing asset ratio declined.
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ICICI Bank Ltd reported a standalone net profit of 148.43 billion Indian rupees ($1.56B) for the quarter ended September, rising 20.1% year-on-year. The result outperformed analyst expectations, driven by strong loan demand across corporate and retail segments in India. Lenders across the country have benefited from robust credit expansion during the period.
