ICICI Bank Quarter 2 Net profit
ICICI Bank the second largest lender in India clocked a 2.6 per cent jump in its net profit in Q2 FY 10 and expects its loan growth to pick up and slippages to decline in the latter half of the fiscal.
It’s net profit in Q2 rose marginally from Rs 1014 crore to Rs 1040 crore.
The lender is continuing the process of reducing retail unsecured loans to 6-7 per cent of its total advances by end-fiscal in a bid to enhance its asset quality, its Managing Director & CEO, Chanda Kochhar, said.
In certain loan portfolios like Home Loan, car and project finance the bank sees double-digit growth, as there is a pick up in economic activities, Kochhar said.
However due to the sluggish growth in First half, the banks credit growth for the full year is likely to be in single digit
ICICI Bank, which was reducing its loan-book size, especially in the retail segment, has completed the first phase of its balance-sheet contraction, Kochhar said.
It’s net profit in Q2 rose marginally from Rs 1014 crore to Rs 1040 crore.
The lender is continuing the process of reducing retail unsecured loans to 6-7 per cent of its total advances by end-fiscal in a bid to enhance its asset quality, its Managing Director & CEO, Chanda Kochhar, said.
In certain loan portfolios like Home Loan, car and project finance the bank sees double-digit growth, as there is a pick up in economic activities, Kochhar said.
However due to the sluggish growth in First half, the banks credit growth for the full year is likely to be in single digit
ICICI Bank, which was reducing its loan-book size, especially in the retail segment, has completed the first phase of its balance-sheet contraction, Kochhar said.
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