ICICI Bank registers record quarterly profit as Q3 net rises 14 per cent

ICICI Bank, India's biggest private-sector lender, has reported a 14 per cent rise in quarterly profit, 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 Rs 28.89 billion ($466.42 million) in the fiscal third quarter ended December 31, from Rs 25.32 billion a year earlier.

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

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

Shares of ICICI were trading 6 per cent lower after the earnings release, versus a 1.6 per cent fall in BSE Sensex.

(Reuters)