 "In May, Sebi had launched an adjudication proceeding against the bank and its managing director and chief executive officer Chanda Kochhar for potential conflict of interest")
Private sector lender ICICI Bank on Saturday reported a net profit of Rs 1,908.03 crore for the April-June quarter (Q1FY20), aided by good interest income and lower provisioning, against a loss of Rs 120 crore in the year-ago quarter. Analysts were expecting a profit of little more than Rs 2,000 crore for the first quarter.
The bank, however, showed improvement in asset quality, as its gross non-performing assets (NPA) ratio fell -- both year-on-year and sequentially -- and the gross additions to NPAs were lower than the year-ago quarter.
The gross NPA ratio was 6.49 per cent for the June quarter, compared
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