May 20, 2024
Loans

ICICI Bank beats Q4 profit estimates on strong loan growth, but margin shrinks

By Siddhi Nayak MUMBAI (Reuters) -ICICI Bank, India’s second-largest private lender, reported a better-than-expected 17.4% increase in fourth-quarter net profit on Saturday, helped by robust loan growth even as its lending margin shrunk. The lender’s standalone net profit, excluding subsidiaries, rose to a record 107.08 billion rupees ($1.28 billion) in the January-March quarter from 91.22

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