ICICI Bank Q2 net falls over 50% to Rs 9 bn; net interest income rises 11%

Net interest income rose 11% to Rs 64.18 billion in September 2018 against Rs 57.09 billion in the year-ago quarter

Private lender ICICI Bank saw its net profit for the September quarter fall by 55.8 per cent to Rs 9.09 billion against Rs 20.58 billion a year ago, said the lender. While this is lower than Rs 9.49 billion according to a Bloomberg poll of analysts, the fall is largely due to a decline in other income.

The bank had reported its first-ever loss, amounting to Rs 1.2 billion, in the June quarter. The quarter also saw Managing Director (MD) and Chief Executive Officer (CEO) Chanda Kochhar going on leave in June, after facing allegations of conflict of interest. 

This was the