ICICI Bank Ltd, India's largest private-sector lender by assets, posted a 20.1% 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 ($382.63 million) 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% to 40.4 billion rupees.
The mean profit estimate of 23 analysts was 21.9 billion rupees, according to Thomson Reuters I/B/E/S.
Net interest margin, a gauge of profitability for banks, expanded to 3.31% during the quarter from 3% a year earlier.
Net non-performing loans, as a percentage of total assets, rose to 0.85% from 0.82% in the prior quarter.
($1 = 61.4175 rupees)