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ICICI Bank second-quarter profit falls, lags estimates
REUTERS
Published : Oct 27, 2017, 5:18 pm IST
Updated : Oct 27, 2017, 5:18 pm IST
Gross bad loans as a percentage of total loans stood at 7.87 per cent at end-September.
Net profit fell to 20.58 billion rupees in the quarter ended September 30, from 31.02 billion rupees a year earlier.
ICICI Bank Ltd, India’s third-biggest lender by assets, reported a 34 percent fall in second-quarter profit, missing analysts’ estimates.
Net profit fell to 20.58 billion rupees ($316.49 million) in the quarter ended September 30, from 31.02 billion rupees a year earlier, the bank said on Friday.
Analysts on average had expected a profit of 24.91 billion rupees, Thomson Reuters data shows.
Gross bad loans as a percentage of total loans stood at 7.87 per cent at end-September, versus 7.99 per cent at end-June and 6.12 per cent a year ago.
