ICICI Bank quarterly profit lowest since 2006
ICICI Bank, India's largest private sector lender by assets, on Friday reported its lowest quarterly profit since 2006. Net profit plunged by 76% year-on-year to ₹702 crore on a one-time provision of ₹3,600 crore for bad loans. Gross NPAs rose to 5.82% from 4.72% in the previous quarter. Further, the bank’s total income grew by 14.5% to ₹18,591 crore.