 "ICICI Bank results meet estimates, Q4 net rises 21%")
India’s No.2 lender, ICICI Bank, posted a 21 percent rise in fourth-quarter net profit, in line with estimates, led by higher loan growth, it said on Friday.
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The bank posted a net profit of about Rs 2300 crore for the January-March quarter, compared with Rs 1902 crore a year earlier. Net interest income, or the difference between income earned and interest expended, rose 22.5 percent to nearly Rs 3800 crore.
Analysts, on average, had estimated net profit of Rs 2284 crore.
Net non-performing loans at the bank stood at 0.77 percent of its total assets compared with 0.73 percent a year earlier.
Net interest margin, a key gauge of profitability for banks, stood at 3.11 percent for the year-ended March compared with 2.73 percent a year ago, it said in a statement.
Reuters