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India's ICICI Bank Q2 profit falls, lags estimates
October 27, 2017 / 11:03 AM / a month ago

India's ICICI Bank Q2 profit falls, lags estimates

Oct 27 (Reuters) - ICICI Bank Ltd, India’s third-biggest lender by assets, reported a 34 percent fall in second-quarter profit, missing analysts’ estimates.

Net profit fell to 20.58 billion rupees ($316.49 million) in the quarter ended Sept. 30, from 31.02 billion rupees a year earlier, the bank said on Friday. (bit.ly/2xrgdnt)

Analysts on average had expected a profit of 24.91 billion rupees, Thomson Reuters data shows.

Gross bad loans as a percentage of total loans stood at 7.87 percent at end-September, versus 7.99 percent at end-June and 6.12 percent a year ago. ($1 = 65.0250 Indian rupees) (Reporting by Samantha Kareen Nair in Bengaluru; Editing by Himani Sarkar and Edmund Blair)

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