ICICI Bank Exceeds Expectations as Quarterly Profit Soars on Strong Loan Growth

ICICI Bank Ltd.’s first-quarter profit topped estimates, underpinned by sustained demand for retail loans in the world’s most populous country.

Net income climbed to 96.5 billion rupees ($1.2 billion) in the quarter ended June 30, compared with 69 billion rupees a year ago, according to a statement Saturday. That beat the average estimate of 88.5 billion rupees in a Bloomberg survey.

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