ICICI Bank net profit down six percent

ICICI Bank net profit down six percent

Monday, 28 July 2008, 11:44 Hrs
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Mumbai: India's largest private sector lender ICICI Bank has posted a six percent dip in its net profit to 7.28 billion ($169 million) for the quarter ending June 2008, down from 7.75 billion ($180 million) for the corresponding period last year, a statement from the bank said Saturday.

The total income of the bank has increased marginally from 92.81 billion ($2.2 billion) to 94.29 billion ($2.24 billion) for the quarter ending June 2008.

The bank's savings account deposits grew by 35 percent during the quarter to 434.65 billion ($10.1 billion) up from 321.21 billion ($7.5 billion) in the comparable period of last year.

The shares of the bank closed Friday at 656.85, down 9.62 percent compared to its previous close.
Source: IANS
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