India's ICICI Bank posts 17% rise in January-March net profit

ICICI Bank ICICIBANK, India's second-largest private lender, on Saturday reported a 17.4% increase in its fourth-quarter net profit, helped by strong loan growth.

The bank's standalone net profit rose to a record 107.08 billion Indian rupees ($1.28 billion) in the January-March quarter, from 91.22 billion in the same period a year earlier.

The result exceeded analysts' average estimate of 103.05 billion rupees, according to LSEG data.

($1 = 83.4000 Indian rupees)