July 27, 2019 / 9:55 AM / a month ago

India's ICICI bank posts quarterly profit

MUMBAI, July 27 (Reuters) - ICICI Bank Ltd, India’s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

Net profit for the quarter ended June 30 was 19.08 billion rupees ($277.04 million) compared with a loss of 1.20 bln rupees in the same period a year ago, the bank said in a statement.

But the profit fell slightly short of the estimated 20.87 billion rupees that 19 analysts had expected on average, according to Refinitiv data. ($1 = 68.8700 Indian rupees) (Reporting by Nupur Anand in Mumbai; editing by Richard Pullin)

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