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ICICI Bank Q1 net up 12%,retail loan surges 25%,NPA down
31 July 2015
,31/July/2015 (ITNN)>>>> ICICI Bank's standalone net profit met street expectations on Friday,rising 12 percent year-on-year to Rs 2,976 crore in June quarter. Strong retail loan book growth,other income and operating profit boosted the overall profitability.

The share price surged 6 percent on strong credit growth and improvement in asset quality. According to average of estimates of analysts polled by CNBC- TV18,profit was estimated at Rs 2,919 crore and net interest income at Rs 5,18 8.4 crore for the quarter. Net interest income,the difference between interest earned and interest expended,rose by 13.9 percent to Rs 5,115 crore compared to Rs 4,491 crore during the same period,aided by 15 percent credit growth.

The country s largest private sector lender said total advances increased to Rs 3,99,738 crore in June quarter from Rs 3,47,067 crore in the year-ago period. The year-on-year growth in domestic advances was 17 percent,it added. It continued to see robust growth in retail disbursements resulting in a year-on- year growth of 25 percent in the retail portfolio,which constituted about 43 percent of total loan portfolio of the bank.