ICICI Bank Q3 net falls 19% to Rs 2,442 cr; bad loans rise

Gross non-performing loan ratio widens to 7.91%

ICICI Bank Ltd, country's No.2 lender by assets, said its third-quarter net profit fell 19% as bad loans rose, although the profit decline was smaller than expected.

Net profit fell to Rs 2,442 crore for the three months to Dec. 31, from Rs 3,018 crore reported a year earlier, the Mumbai-based lender said on Tuesday.

Bad loans as a percentage of total loans rose to 7.91% at the end of December, from 6.82% at the end of September and 4.72% a year ago.

Indian banks have been hit hard by the government's shock cancellation in November of 86% of the