ICICI Bank Q3 net profit jumps 4.5% yoy to Rs 3,018 cr, bad loans widen

By: | Updated: January 28, 2016 5:11 PM

ICICI Bank, India's biggest private sector lender by assets, reported a surge in bad loans for the December quarter partly due to a central bank direction to reclassify some troubled loan accounts as bad loans.

 

ICICI Bank, icici bank q3ICICI Bank, India’s biggest private sector lender by assets, reported a surge in bad loans for the December quarter partly due to a central bank direction to reclassify some troubled loan accounts as bad loans.

ICICI Bank, India’s biggest private sector lender by assets, reported a surge in bad loans for the December quarter partly due to a central bank direction to reclassify some troubled loan accounts as bad loans.

Net profit rose 4.5 per cent to Rs 3018 crore for its fiscal third quarter to Dec. 31, from Rs 2889 crore reported a year earlier, the bank said in a statement on Thursday.

Analysts on average had expected a net profit of 30.17 billion rupees for the bank, which is also listed in New York .

Gross bad loans as a percentage of total loans widened to 4.72 per cent in the December quarter from 3.77 per cent in the previous three months.

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