India's ICICI Bank rises after quarterly profit beat
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BENGALURU - Shares of ICICI Bank, India's second-largest private-sector lender, rose as much as 1.5% on Monday, after the bank beat quarterly profit expectations on the back of strong loan growth and lower bad loan provisions.
Net profit jumped 25.4% to 61.94 billion rupees ($832.72 million) in the third quarter ended Dec. 31, the bank said https://www.bseindia.com/xml-data/corpfiling/AttachLive/e9524ede-d16d-4b97-9678-fa88a8378a26.pdf on Saturday. Analysts, on average, had expected a profit of 60.52 billion rupees, according to Refinitiv data.
ICICI shares climbed 1.5% to 816.7 rupees, before paring gains to trade up 0.3%, as of 0410 GMT, in a weak broader market.
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