ICICI Bank net profit down six percent

July 26th, 2008 - 4:26 pm ICT by IANS  

Mumbai, July 26 (IANS) India’s largest private sector lender ICICI Bank has posted a six percent dip in its net profit to Rs.7.28 billion ($169 million) for the quarter ending June 2008, down from Rs.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 Rs.92.81 billion ($2.2 billion) to Rs.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 Rs.434.65 billion ($10.1 billion) up from Rs.321.21 billion ($7.5 billion) in the comparable period of last year.

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

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