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ICICI Bank Q1 profit down 8% to Rs2,049 crore

LiveMint logoLiveMint 27-07-2017 Jose Koilparambil

Bengaluru: ICICI Bank Ltd, India’s third-biggest lender by assets, reported an 8% fall in its first-quarter profit but was slightly ahead of analysts’ estimates.

Net profit fell to Rs2,049 crore ($319.6 million) in the quarter ended 30 June, from Rs2,232 crore a year ago, the bank said on Thursday. Analysts on average had expected a net profit of Rs2,043 crore, Thomson Reuters data showed.

Gross non-performing loans as a percentage of total loans rose to 7.99% at end-June from 7.89% at March-end and 5.28% a year earlier. Reuters

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