ICICI Bank Ltd, India's largest private-sector lender by assets, posted a 20.1 per cent rise in second-quarter profit, beating analyst estimates, led by higher credit growth and income from fees.
Net profit for July-September was 23.5 billion rupees compared with 19.6 billion a year earlier, the bank said on Friday. Net interest income, or the difference between interest earned and paid, rose about 20 per cent to 40.4 billion rupees.
The mean profit estimate of 23 analysts was 21.9 billion rupees, according to Thomson Reuters
Net interest margin, a gauge of profitability for banks, expanded to 3.31 per cent during the quarter from 3 per cent a year earlier.
Net non-performing loans, as a percentage of total assets, rose to 0.85 per cent from 0.82 per cent in the prior quarter.
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