India's ICICI Bank beats quarterly profit estimates on lower provisions for bad loans
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Indian private lender ICICI Bank reported a higher-than-expected profit for the second quarter on Saturday, as lower provisions against bad loans balanced out a fall in treasury income.The country’s second-largest private lender by market capitalisation posted a standalone net profit of 123.59 billion Indian rupees ($1.40 billion) for the three months ended September, compared with 117.46 billion rupees a year earlier.Analysts had expected a profit of 122.36 billion rupees, according to data compiled by LSEG. ($1 = 87.9740 Indian rupees)
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